Enzi Wealth Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Enzi Wealth lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% in the first quarter, HoldingsChannel.com reports. The fund owned 2,426 shares of the information services provider’s stock after selling 254 shares during the period. Enzi Wealth’s holdings in Alphabet were worth $376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter valued at $15,441,917,000. Fisher Asset Management LLC lifted its holdings in shares of Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after acquiring an additional 1,472,043 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Alphabet by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock worth $4,876,605,000 after acquiring an additional 874,919 shares in the last quarter. Finally, Capital International Investors increased its stake in Alphabet by 2.3% in the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock valued at $4,247,868,000 after acquiring an additional 686,514 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,026 shares of company stock worth $24,026,243. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GOOGL shares. Jefferies Financial Group lifted their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Roth Mkm upped their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Truist Financial increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, UBS Group increased their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Trading Down 1.8 %

GOOGL opened at $182.15 on Monday. The stock has a market cap of $2.25 trillion, a PE ratio of 27.94, a PEG ratio of 1.37 and a beta of 1.01. The business has a 50 day moving average of $172.85 and a 200-day moving average of $154.44. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the firm posted $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

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.