Opes Wealth Management LLC Has $2.06 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Opes Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 46.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,882 shares of the information services provider’s stock after buying an additional 3,431 shares during the quarter. Opes Wealth Management LLC’s holdings in Alphabet were worth $2,060,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC grew its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOGL shares. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the business’s 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 sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,309 shares of company stock worth $25,057,490 over the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Up 1.1 %

NASDAQ GOOGL opened at $170.33 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The stock has a market cap of $2.08 trillion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The stock has a 50 day simple moving average of $190.58 and a two-hundred day simple moving average of $176.11.

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, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.