Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,345 shares of the information services provider’s stock after selling 444 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Alphabet were worth $328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Meritage Group LP lifted its holdings 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 acquiring an additional 276 shares during the period. Armor Investment Advisors LLC lifted its holdings 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 acquiring an additional 80 shares during the period. IAG Wealth Partners LLC lifted its holdings in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $177.85 on Wednesday. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $178.77. The business’s fifty day simple moving average is $158.79 and its 200-day simple moving average is $145.98. The firm has a market cap of $2.20 trillion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the company posted $1.17 EPS. Equities analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced 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. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

Analysts Set New Price Targets

GOOGL has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Barclays boosted their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Robert W. Baird boosted their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Mizuho boosted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,935 shares of company stock valued at $31,178,987. Corporate insiders own 11.55% of the company’s stock.

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.