Inlet Private Wealth LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Inlet Private Wealth LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,848 shares of the information services provider’s stock after selling 485 shares during the period. Alphabet comprises 1.2% of Inlet Private Wealth LLC’s portfolio, making the stock its 28th largest holding. Inlet Private Wealth LLC’s holdings in Alphabet were worth $4,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bennett Selby Investments LP boosted its holdings in Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its holdings in Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 53 shares during the last quarter. Denver PWM LLC boosted its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Ignite Planners LLC boosted its holdings in Alphabet by 0.4% in the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after purchasing an additional 57 shares during the last quarter. Finally, Fermata Advisors LLC boosted its holdings in Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Wells Fargo & Company increased 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. JPMorgan Chase & Co. dropped their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock valued at $16,600,078 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $185.34 on Monday. The firm has a market cap of $2.27 trillion, a PE ratio of 23.02, a P/E/G ratio of 1.39 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $191.61 and a 200-day simple moving average of $174.61. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts predict that Alphabet Inc. will post 8.91 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 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.