Beacon Financial Group Sells 514 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Beacon Financial Group lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,265 shares of the information services provider’s stock after selling 514 shares during the period. Beacon Financial Group’s holdings in Alphabet were worth $3,268,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Sage Private Wealth Group LLC boosted its stake in shares of Alphabet by 6.2% during the 4th quarter. Sage Private Wealth Group LLC now owns 3,708 shares of the information services provider’s stock valued at $702,000 after purchasing an additional 216 shares in the last quarter. Wealth Advisors Northwest LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $261,000. Schear Investment Advisers LLC boosted its stake in shares of Alphabet by 6.9% during the 4th quarter. Schear Investment Advisers LLC now owns 36,066 shares of the information services provider’s stock valued at $6,827,000 after purchasing an additional 2,315 shares in the last quarter. Warther Private Wealth LLC boosted its stake in shares of Alphabet by 0.4% during the 4th quarter. Warther Private Wealth LLC now owns 114,986 shares of the information services provider’s stock valued at $21,767,000 after purchasing an additional 497 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its stake in shares of Alphabet by 6.2% during the 4th quarter. Leavell Investment Management Inc. now owns 37,186 shares of the information services provider’s stock valued at $7,039,000 after purchasing an additional 2,183 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction 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. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,299 shares of company stock worth $25,055,751. 11.55% of the stock is owned by company insiders.

Alphabet Stock Down 2.7 %

GOOGL opened at $179.66 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $192.46 and a 200-day moving average price of $175.81. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 0.45%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. DA Davidson lifted their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wedbush lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

About Alphabet

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.