Cedar Wealth Management LLC Has $2.21 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cedar Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,677 shares of the information services provider’s stock after purchasing an additional 218 shares during the quarter. Alphabet makes up 0.8% of Cedar Wealth Management LLC’s portfolio, making the stock its 16th biggest position. Cedar Wealth Management LLC’s holdings in Alphabet were worth $2,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Absolute Capital Management LLC boosted its stake in Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares during the last quarter. Permanent Capital Management LP acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $273,000. Landscape Capital Management L.L.C. increased its position in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC raised its holdings in shares of Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after acquiring an additional 1,580 shares during the period. Finally, Olistico Wealth LLC lifted its position in Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after acquiring an additional 746 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the 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 completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,297 shares of company stock valued at $15,936,270. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Bank of America restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.49.

Alphabet Stock Performance

NASDAQ GOOGL opened at $157.04 on Thursday. The firm’s 50 day simple moving average is $177.19 and its 200 day simple moving average is $176.95. The firm has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.