Core Wealth Management Inc. Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Core Wealth Management Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,341 shares of the information services provider’s stock after selling 155 shares during the period. Alphabet comprises 0.3% of Core Wealth Management Inc.’s holdings, making the stock its 11th biggest holding. Core Wealth Management Inc.’s holdings in Alphabet were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Oak Harvest Investment Services grew its position in shares of Alphabet by 23.7% during the 4th quarter. Oak Harvest Investment Services now owns 38,428 shares of the information services provider’s stock worth $7,274,000 after buying an additional 7,356 shares in the last quarter. Fortune Financial Advisors LLC grew its stake in Alphabet by 1.4% during the 4th quarter. Fortune Financial Advisors LLC now owns 19,808 shares of the information services provider’s stock worth $3,750,000 after buying an additional 270 shares during the last quarter. FSA Advisors Inc. boosted its stake in Alphabet by 25.4% in the 4th quarter. FSA Advisors Inc. now owns 2,136 shares of the information services provider’s stock worth $404,000 after purchasing an additional 432 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, Cibc World Market Inc. raised its stake in Alphabet by 8.3% in the 4th quarter. Cibc World Market Inc. now owns 3,015,231 shares of the information services provider’s stock worth $570,783,000 after acquiring an additional 231,886 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s 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 of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday. Sanford C. Bernstein increased their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Down 3.3 %

Shares of NASDAQ GOOGL opened at $185.34 on Friday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a market capitalization of $2.27 trillion, a P/E ratio of 24.58, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a 50 day simple moving average of $191.28 and a 200-day simple moving average of $174.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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 27.74% and a return on equity of 31.66%. On average, equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.