McIlrath & Eck LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

McIlrath & Eck LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,694 shares of the information services provider’s stock after selling 359 shares during the quarter. McIlrath & Eck LLC’s holdings in Alphabet were worth $1,494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Meritage Group LP raised its stake in Alphabet by 1,061.5% during the third 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 holdings in Alphabet by 165.8% in the 3rd 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 during the last quarter. Armor Investment Advisors LLC grew its stake in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the period. Finally, IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the sale, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at approximately $336,980,728.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the sale, the chief executive officer now owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $169.96 on Friday. The firm’s 50-day moving average is $152.06 and its two-hundred day moving average is $143.01. Alphabet Inc. has a twelve month low of $107.93 and a twelve month high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.10 trillion, a P/E ratio of 26.07, a PEG ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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 return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup lifted their price objective on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Wolfe Research increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet 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.