Alphabet Inc. (NASDAQ:GOOGL) is Xcel Wealth Management LLC’s 4th Largest Position

Xcel Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,808 shares of the information services provider’s stock after selling 3,318 shares during the period. Alphabet accounts for about 4.8% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Xcel Wealth Management LLC’s holdings in Alphabet were worth $17,379,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOGL. Proficio Capital Partners LLC lifted its position in Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Alphabet in the third quarter worth about $513,024,000. Geode Capital Management LLC raised its holdings in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Alphabet by 26.9% in the third quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock worth $1,669,300,000 after buying an additional 2,136,128 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOGL shares. DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Piper Sandler decreased their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Finally, DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a report on Thursday, February 6th. Ten investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.49 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $140.03 and a 1-year high of $207.05. The company has a market capitalization of $2.02 trillion, a P/E ratio of 20.56, a P/E/G ratio of 1.34 and a beta of 1.02. The firm’s 50 day simple moving average is $185.70 and its two-hundred day simple moving average is $176.38.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced 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 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,882 shares of company stock valued at $17,934,130. 11.55% of the stock is currently owned by corporate insiders.

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.