Element Wealth LLC Sells 83 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Element Wealth LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,423 shares of the information services provider’s stock after selling 83 shares during the quarter. Element Wealth LLC’s holdings in Alphabet were worth $338,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Meritage Group LP increased its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC increased its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC increased its stake in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in shares of Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after buying an additional 392 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $163.86 on Thursday. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05. The company’s 50-day moving average is $149.22 and its 200-day moving average is $141.95. Alphabet Inc. has a fifty-two week low of $103.71 and a fifty-two week 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.

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

Alphabet Announces Dividend

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

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,129 shares of company stock valued at $40,382,765. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. Redburn Atlantic upped their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Robert W. Baird upped their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Roth Mkm upped their price target on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Citigroup upped their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer upped their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $190.60.

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.