FMB Wealth Management Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

FMB Wealth Management lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 3,769 shares of the information services provider’s stock after selling 72 shares during the quarter. FMB Wealth Management’s holdings in Alphabet were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. Capital Research Global Investors increased its stake in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp raised its position in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the last quarter. Capital World Investors lifted its stake in shares of Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after acquiring an additional 418,204 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOGL shares. Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock worth $34,673,866. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $164.76 on Friday. The company has a market cap of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. The firm’s 50 day moving average is $167.64 and its two-hundred day moving average is $170.35. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its 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 business 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 last year, the company posted $1.55 EPS. Analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.