Silverlake Wealth Management LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Silverlake Wealth Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,213 shares of the information services provider’s stock after selling 140 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Alphabet were worth $987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of 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 acquiring an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Alphabet in the third quarter worth $513,024,000. Finally, Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 2,626,431 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wolfe Research boosted their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup cut their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Ten research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Trading Down 0.5 %

Shares of GOOGL stock opened at $185.23 on Friday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The stock’s 50 day simple moving average is $192.64 and its two-hundred day simple moving average is $175.03. The company has a market cap of $2.27 trillion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released 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 return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.91 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is 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.