Evoke Wealth LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Evoke Wealth LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,325 shares of the information services provider’s stock after selling 1,523 shares during the quarter. Evoke Wealth LLC’s holdings in Alphabet were worth $23,724,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bennett Selby Investments LP raised its holdings in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after buying an additional 52 shares during the last quarter. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 53 shares during the last quarter. Finally, Addison Advisors LLC grew its stake in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOGL shares. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. 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. Bank of America reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Ten investment 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 company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $210.59.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,812 shares of company stock valued at $19,336,979 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $154.33 on Friday. The company has a 50-day simple moving average of $179.66 and a 200-day simple moving average of $176.92. 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 has a market cap of $1.88 trillion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05.

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 return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current 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 given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Alphabet Company 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.