Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by MGO Private Wealth LLC

MGO Private Wealth LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,544 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet accounts for about 0.8% of MGO Private Wealth LLC’s investment portfolio, making the stock its 27th biggest holding. MGO Private Wealth LLC’s holdings in Alphabet were worth $1,290,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOGL. Vanguard Group Inc. raised its holdings 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 worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $15,441,917,000. Fisher Asset Management LLC raised its holdings in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Alphabet by 2.6% during 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 purchasing an additional 874,919 shares during the last quarter. Finally, Capital International Investors raised its holdings in Alphabet by 2.3% during the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock worth $4,247,868,000 after purchasing an additional 686,514 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective on shares of Alphabet in a report on Wednesday. Raymond James lifted their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Citigroup raised their price target on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Roth Mkm raised their price target on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Bank of America reissued a “buy” rating and set a $200.00 price target on shares of Alphabet in a research report on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.66.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock worth $21,143,403 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOGL stock opened at $185.82 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $186.09. The stock has a 50-day moving average price of $174.46 and a two-hundred day moving average price of $155.39. The company has a market cap of $2.30 trillion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders 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 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

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.