Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,521 shares of the information services provider’s stock after selling 113 shares during the period. Alphabet makes up about 1.3% of Chemistry Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Chemistry Wealth Management LLC’s holdings in Alphabet were worth $5,399,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOGL. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at about $32,000. Denver PWM LLC raised its position in shares of 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 purchasing an additional 57 shares during the last quarter. Quarry LP purchased a new stake in shares of Alphabet in the second quarter valued at $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the 3rd quarter valued at about $66,000. Finally, Mendota Financial Group LLC boosted its position in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $196.00 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The firm has a fifty day moving average of $184.43 and a two-hundred day moving average of $173.34. The stock has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley lifted their price target on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada raised their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.15.

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.