Element Wealth LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Element Wealth LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,423 shares of the information services provider’s stock after selling 83 shares during the period. Element Wealth LLC’s holdings in Alphabet were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Meritage Group LP boosted its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC boosted its position in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the period. Armor Investment Advisors LLC lifted its holdings in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Alphabet in the 4th quarter worth $55,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in Alphabet by 301.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after buying an additional 392 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the transaction, the director now owns 7,164 shares in the company, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock worth $40,382,765. 0.88% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $163.86 on Thursday. Alphabet Inc. has a 12 month low of $103.71 and a 12 month high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.13, a P/E/G ratio of 1.29 and a beta of 1.05. The company’s 50 day simple moving average is $149.22 and its 200 day simple moving average is $141.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the business earned $1.17 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.49 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%.

Analyst Ratings Changes

A number of brokerages have commented on GOOGL. Wedbush boosted their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Susquehanna boosted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday. Truist Financial boosted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Company 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.