Alphabet Inc. (NASDAQ:GOOGL) Stock Position Cut by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,356 shares of the information services provider’s stock after selling 10,779 shares during the period. Alphabet makes up 1.3% of Soltis Investment Advisors LLC’s holdings, making the stock its 13th largest position. Soltis Investment Advisors LLC’s holdings in Alphabet were worth $14,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. State Street Corp lifted its stake in Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. increased 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 valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOGL opened at $184.56 on Friday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The stock’s 50-day moving average is $192.67 and its two-hundred day moving average is $175.55. The firm has a market cap of $2.25 trillion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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%. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald cut their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Morgan Stanley decreased their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 116,609 shares of company stock valued at $21,809,990. Company insiders own 11.55% of the company’s stock.

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.