Lyell Wealth Management LP Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Lyell Wealth Management LP decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,753 shares of the information services provider’s stock after selling 1,532 shares during the period. Alphabet comprises 2.4% of Lyell Wealth Management LP’s portfolio, making the stock its 8th largest holding. Lyell Wealth Management LP’s holdings in Alphabet were worth $26,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC lifted its position in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the period. Landscape Capital Management L.L.C. lifted its position in 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 valued at $4,192,000 after purchasing an additional 5,516 shares during the period. abrdn plc lifted its position in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. Olistico Wealth LLC lifted its position in Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares during the period. Finally, Centaurus Financial Inc. lifted its position in Alphabet by 22.9% during the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after purchasing an additional 11,481 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. KeyCorp increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Stifel Nicolaus increased their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wolfe Research increased their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Performance

GOOGL opened at $167.01 on Tuesday. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.34 and a beta of 0.99. The company has a fifty day moving average of $190.02 and a 200 day moving average of $176.35. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.94%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,316 shares of company stock valued at $25,062,887 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company Profile

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.