Core Wealth Management Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Core Wealth Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,341 shares of the information services provider’s stock after selling 155 shares during the period. Alphabet comprises about 0.3% of Core Wealth Management Inc.’s holdings, making the stock its 11th largest holding. Core Wealth Management Inc.’s holdings in Alphabet were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Oak Harvest Investment Services grew its position in shares of Alphabet by 23.7% in the 4th quarter. Oak Harvest Investment Services now owns 38,428 shares of the information services provider’s stock worth $7,274,000 after buying an additional 7,356 shares during the last quarter. Fortune Financial Advisors LLC lifted its stake in Alphabet by 1.4% in the fourth quarter. Fortune Financial Advisors LLC now owns 19,808 shares of the information services provider’s stock worth $3,750,000 after acquiring an additional 270 shares during the period. FSA Advisors Inc. boosted its holdings in Alphabet by 25.4% in the fourth quarter. FSA Advisors Inc. now owns 2,136 shares of the information services provider’s stock valued at $404,000 after acquiring an additional 432 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter valued at $39,000. Finally, Cibc World Market Inc. lifted its holdings in Alphabet by 8.3% in the fourth quarter. Cibc World Market Inc. now owns 3,015,231 shares of the information services provider’s stock worth $570,783,000 after buying an additional 231,886 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $185.34 on Friday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.31 and a beta of 0.99. The stock’s 50-day simple moving average is $191.28 and its 200-day simple moving average is $174.64.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.