Cabot Wealth Management Inc. Sells 554 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cabot Wealth Management Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,795 shares of the information services provider’s stock after selling 554 shares during the period. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $2,990,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Pettinga Financial Advisors LLC increased its position in Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after acquiring an additional 201 shares in the last quarter. Ellis Investment Partners LLC increased its position in Alphabet by 0.5% in the 3rd quarter. Ellis Investment Partners LLC now owns 29,361 shares of the information services provider’s stock valued at $4,869,000 after acquiring an additional 157 shares in the last quarter. OMNI 360 Wealth Inc. increased its position in Alphabet by 42.4% in the 3rd quarter. OMNI 360 Wealth Inc. now owns 3,488 shares of the information services provider’s stock valued at $578,000 after acquiring an additional 1,039 shares in the last quarter. Motiv8 Investments LLC increased its position in Alphabet by 4.7% in the 3rd quarter. Motiv8 Investments LLC now owns 5,434 shares of the information services provider’s stock valued at $901,000 after acquiring an additional 242 shares in the last quarter. Finally, First Financial Bankshares Inc raised its holdings in Alphabet by 1.4% in the third quarter. First Financial Bankshares Inc now owns 409,273 shares of the information services provider’s stock worth $67,878,000 after purchasing an additional 5,638 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred 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 transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,316 shares of company stock valued at $25,062,887 over the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $173.86 on Friday. The stock has a 50 day moving average price of $188.21 and a 200 day moving average price of $176.47. Alphabet Inc. has a 52 week low of $134.00 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $2.12 trillion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released 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 return on equity of 32.49% and a net margin of 28.60%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. 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 report on Friday, January 3rd. Wedbush increased their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. DZ Bank downgraded 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. Finally, Cantor Fitzgerald lowered their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price 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.