Reston Wealth Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Reston Wealth Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,172 shares of the information services provider’s stock after selling 249 shares during the quarter. Alphabet makes up approximately 0.3% of Reston Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. Reston Wealth Management LLC’s holdings in Alphabet were worth $790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bennett Selby Investments LP boosted its position in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after acquiring an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the last quarter. Denver PWM LLC raised its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. Ignite Planners LLC lifted its position in Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after buying an additional 57 shares in the last quarter. Finally, Fermata Advisors LLC increased its position in shares of Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after acquiring an additional 57 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $191.60 on Friday. The firm has a market capitalization of $2.35 trillion, a P/E ratio of 25.41, a P/E/G ratio of 1.31 and a beta of 0.99. The business has a 50 day simple moving average of $190.83 and a 200 day simple moving average of $174.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is currently 9.94%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,529 shares of company stock valued at $16,600,078. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Morgan Stanley reduced their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday. Cantor Fitzgerald lowered their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.