Moran Wealth Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Moran Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,907 shares of the information services provider’s stock after purchasing an additional 897 shares during the quarter. Moran Wealth Management LLC’s holdings in Alphabet were worth $17,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Proficio Capital Partners LLC boosted its stake 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 last quarter. Amundi boosted its stake in Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after acquiring an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alphabet during the 3rd quarter valued at $513,024,000. Finally, Geode Capital Management LLC boosted its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research note on Thursday, February 6th. 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 report on Monday, January 6th. Piper Sandler reduced their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. DA Davidson raised their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Stock Up 0.7 %

NASDAQ GOOGL opened at $163.99 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. The company’s 50 day simple moving average is $182.57 and its 200 day simple moving average is $176.51. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The company has a market capitalization of $2.00 trillion, a P/E ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. Equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. The trade was a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

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.