MRA Advisory Group Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

MRA Advisory Group trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,431 shares of the information services provider’s stock after selling 330 shares during the quarter. MRA Advisory Group’s holdings in Alphabet were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Lantz Financial LLC grew its position in Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after acquiring an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC bought a new stake in Alphabet during the second quarter worth about $218,000. Vance Wealth Inc. boosted its holdings in shares of Alphabet by 4.0% in the 2nd quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock worth $563,000 after purchasing an additional 119 shares in the last quarter. JFG Wealth Management LLC boosted its holdings in shares of Alphabet by 14.4% in the 2nd quarter. JFG Wealth Management LLC now owns 2,011 shares of the information services provider’s stock worth $366,000 after purchasing an additional 253 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its position in shares of Alphabet by 3.5% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 144,068 shares of the information services provider’s stock valued at $26,242,000 after purchasing an additional 4,903 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp upped their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research increased their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Sanford C. Bernstein boosted their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock worth $23,817,951 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.7 %

NASDAQ:GOOGL opened at $189.66 on Wednesday. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The company’s 50-day simple moving average is $183.45 and its 200 day simple moving average is $173.04. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.15, a PEG ratio of 1.35 and a beta of 0.98. 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 quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business posted $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.