Vance Wealth Inc. Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Vance Wealth Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,257 shares of the information services provider’s stock after selling 583 shares during the quarter. Vance Wealth Inc.’s holdings in Alphabet were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. RWQ Financial Management Services Inc. lifted its holdings in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the period. Robbins Farley increased its holdings in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Quantum Financial Advisors LLC lifted its stake in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Colton Groome Financial Advisors LLC boosted its holdings in Alphabet by 3.8% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after buying an additional 100 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 over the last three months. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. TD Cowen increased their target price on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. KeyCorp increased their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Jefferies Financial Group raised their price objective on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, UBS Group lifted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Up 0.4 %

GOOGL stock opened at $167.24 on Monday. Alphabet Inc. has a one year low of $103.97 and a one year high of $174.71. The firm has a market cap of $2.08 trillion, a PE ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. The firm’s 50 day moving average price is $150.14 and its 200-day moving average price is $142.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company posted $1.17 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

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.