Drucker Wealth 3.0 LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Drucker Wealth 3.0 LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 24,061 shares of the information services provider’s stock after selling 90 shares during the period. Alphabet makes up about 1.0% of Drucker Wealth 3.0 LLC’s investment portfolio, making the stock its 29th largest holding. Drucker Wealth 3.0 LLC’s holdings in Alphabet were worth $4,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Ball & Co Wealth Management Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $265,000. Jupiter Wealth Management LLC lifted its position in shares of Alphabet by 1.1% during the 4th quarter. Jupiter Wealth Management LLC now owns 99,574 shares of the information services provider’s stock valued at $18,849,000 after buying an additional 1,087 shares during the last quarter. Orin Green Financial LLC lifted its position in shares of Alphabet by 1.4% during the 4th quarter. Orin Green Financial LLC now owns 5,041 shares of the information services provider’s stock valued at $954,000 after buying an additional 70 shares during the last quarter. Auxier Asset Management lifted its position in shares of Alphabet by 1.4% during the 4th quarter. Auxier Asset Management now owns 88,697 shares of the information services provider’s stock valued at $16,790,000 after buying an additional 1,265 shares during the last quarter. Finally, Blue Sky Capital Consultants Group Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $5,141,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $168.47 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business’s 50-day moving average price is $158.57 and its 200-day moving average price is $174.88. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

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

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. 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 0.50%. Alphabet’s dividend payout ratio is 9.36%.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,654 shares of company stock worth $26,793,380. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday. Susquehanna dropped their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Sanford C. Bernstein increased their price objective on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Finally, Mizuho dropped their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

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.