Keystone Financial Group Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Keystone Financial Group reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,122 shares of the information services provider’s stock after selling 789 shares during the period. Keystone Financial Group’s holdings in Alphabet were worth $3,370,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOGL. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter valued at about $38,000. Meritage Group LP lifted its position in shares of 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 in the last quarter. Armor Investment Advisors LLC boosted its stake in shares of 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 during the period. IAG Wealth Partners LLC grew its holdings in shares of 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 purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Barclays upped their price objective on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Roth Mkm lifted their price objective on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Sandler reissued an “overweight” rating and set a $200.00 price objective (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Canaccord Genuity Group raised 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. Finally, KeyCorp boosted their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.57.

Alphabet Price Performance

Alphabet stock opened at $174.99 on Monday. The business has a fifty day moving average of $160.81 and a two-hundred day moving average of $146.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $2.16 trillion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. Alphabet Inc. has a one year low of $115.35 and a one year high of $178.77.

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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the firm posted $1.17 EPS. As a group, analysts predict that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, June 10th.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the transaction, the chief executive officer now directly owns 2,258,011 shares in the company, valued at approximately $391,132,665.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the transaction, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The disclosure for this sale can be found here. Insiders sold a total of 205,935 shares of company stock valued at $31,178,987 over the last three months. 11.55% of the stock is currently owned by insiders.

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.