OneAscent Wealth Management LLC Sells 1,379 Shares of Alphabet Inc. (NASDAQ:GOOGL)

OneAscent Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,164 shares of the information services provider’s stock after selling 1,379 shares during the period. Alphabet comprises 0.5% of OneAscent Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. OneAscent Wealth Management LLC’s holdings in Alphabet were worth $1,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Community Bank N.A. raised its holdings in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares during the period. Absolute Capital Management LLC grew its holdings in shares of Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares in the last quarter. Permanent Capital Management LP bought a new stake in shares of Alphabet in the 4th quarter worth about $273,000. Glass Wealth Management Co LLC increased its stake in 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 last quarter. Finally, Olistico Wealth LLC raised its holdings in Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Down 3.4 %

GOOGL stock opened at $145.60 on Monday. The firm has a 50-day simple moving average of $175.15 and a 200-day simple moving average of $176.93. Alphabet Inc. has a 52 week low of $145.38 and a 52 week high of $207.05. The stock has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) 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.