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

Fonville Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,843 shares of the information services provider’s stock after selling 151 shares during the period. Fonville Wealth Management LLC’s holdings in Alphabet were worth $917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LMR Partners LLP purchased a new position in Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth $39,000. Denver PWM LLC raised its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the third quarter valued at $66,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,824 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,815,948.32. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,609 shares of company stock valued at $21,809,990. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup lowered their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Performance

Alphabet stock opened at $184.56 on Friday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The stock has a fifty day moving average price of $192.67 and a 200 day moving average price of $175.55. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.25 trillion, a P/E ratio of 22.93, a PEG ratio of 1.34 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 earnings per share (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 research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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