Acorn Wealth Advisors LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Acorn Wealth Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,187 shares of the information services provider’s stock after selling 128 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Alphabet were worth $793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Schear Investment Advisers LLC increased its holdings in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Landscape Capital Management L.L.C. grew its position in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc increased its stake in shares of 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 buying an additional 611,233 shares during the period. Olistico Wealth LLC raised its holdings in shares of Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after acquiring an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. raised its holdings in shares of Alphabet by 22.9% in the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after acquiring an additional 11,481 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of GOOGL stock opened at $173.86 on Monday. Alphabet Inc. has a twelve month low of $134.00 and a twelve month high of $207.05. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.60, a P/E/G ratio of 1.34 and a beta of 1.02. The stock has a 50 day moving average of $188.21 and a 200 day moving average of $176.54. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. 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 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. Citigroup cut their target price 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. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock valued at $25,062,887 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

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.