Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,244 shares of the information services provider’s stock after selling 2,373 shares during the quarter. Consolidated Planning Corp’s holdings in Alphabet were worth $5,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Raab & Moskowitz Asset Management LLC lifted its stake in shares of Alphabet by 2.3% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 40,429 shares of the information services provider’s stock worth $7,653,000 after buying an additional 910 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in Alphabet by 30.2% during the fourth quarter. McClarren Financial Advisors Inc. now owns 3,554 shares of the information services provider’s stock worth $672,000 after purchasing an additional 825 shares during the last quarter. Warren Street Wealth Advisors LLC increased its position in shares of Alphabet by 4.4% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 9,757 shares of the information services provider’s stock valued at $1,847,000 after acquiring an additional 412 shares during the last quarter. Hidden Cove Wealth Management LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $405,000. Finally, Three Bridge Wealth Advisors LLC increased its position in shares of Alphabet by 0.7% during the fourth quarter. Three Bridge Wealth Advisors LLC now owns 15,159 shares of the information services provider’s stock valued at $2,870,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 2.7 %

Shares of NASDAQ GOOGL opened at $179.66 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.19 trillion, a PE ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a 50-day moving average of $192.46 and a two-hundred day moving average of $175.93. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock worth $25,055,751 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research raised their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald cut their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Wedbush lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Morgan Stanley dropped their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.