Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,662 shares of the information services provider’s stock after selling 122 shares during the period. Abacus Wealth Partners LLC’s holdings in Alphabet were worth $693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. New Hampshire Trust raised its stake in shares of Alphabet by 2.9% during the 4th quarter. New Hampshire Trust now owns 45,925 shares of the information services provider’s stock worth $8,694,000 after buying an additional 1,300 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in Alphabet by 0.3% during the 4th quarter. Koshinski Asset Management Inc. now owns 32,922 shares of the information services provider’s stock valued at $6,232,000 after acquiring an additional 93 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its position in Alphabet by 2.3% during the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 8,425 shares of the information services provider’s stock worth $1,595,000 after acquiring an additional 190 shares during the last quarter. Priebe Wealth Holdings LLC lifted its holdings in shares of Alphabet by 10.6% in the fourth quarter. Priebe Wealth Holdings LLC now owns 1,529 shares of the information services provider’s stock valued at $289,000 after purchasing an additional 146 shares in the last quarter. Finally, Wealthquest Corp increased its stake in shares of Alphabet by 6.5% during the 4th quarter. Wealthquest Corp now owns 5,714 shares of the information services provider’s stock worth $1,082,000 after purchasing an additional 349 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.1 %

Shares of Alphabet stock opened at $200.21 on Friday. 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 Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The business has a 50-day moving average of $185.91 and a 200-day moving average of $173.72. The company has a market capitalization of $2.45 trillion, a PE ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates 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 company posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GOOGL shares. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. DA Davidson lifted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.44.

Alphabet 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.