Beacon Pointe Advisors LLC Sells 20,789 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Beacon Pointe Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 471,277 shares of the information services provider’s stock after selling 20,789 shares during the quarter. Alphabet comprises 1.0% of Beacon Pointe Advisors LLC’s portfolio, making the stock its 19th biggest position. Beacon Pointe Advisors LLC’s holdings in Alphabet were worth $89,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Compass Planning Associates Inc acquired a new stake in Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC raised its stake in shares of Alphabet by 25.4% in the 3rd 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 period. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at $419,320,207.36. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock worth $25,361,647 in the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $161.96 on Monday. The company’s 50 day simple moving average is $162.18 and its 200 day simple moving average is $175.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the company earned $1.89 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. Alphabet’s payout ratio is 9.36%.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. KeyCorp upped their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Needham & Company LLC restated a “buy” rating and set a $178.00 target price on shares of Alphabet in a report on Friday. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Stifel Nicolaus reduced their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.63.

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.