ProVise Management Group LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

ProVise Management Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 83,359 shares of the information services provider’s stock after selling 1,056 shares during the quarter. Alphabet makes up approximately 1.0% of ProVise Management Group LLC’s portfolio, making the stock its 28th biggest holding. ProVise Management Group LLC’s holdings in Alphabet were worth $11,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $38,000. 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 during the last quarter. Armor Investment Advisors LLC boosted its holdings 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 in the last quarter. IAG Wealth Partners LLC raised its stake in 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 acquiring an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GOOGL shares. Redburn Atlantic raised their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group increased their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Loop Capital lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. TD Cowen raised 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. Finally, Piper Sandler restated an “overweight” rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.57.

Get Our Latest Research Report on Alphabet

Alphabet Trading Up 0.8 %

Shares of GOOGL stock opened at $176.40 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77. The firm’s 50 day moving average price is $161.94 and its two-hundred day moving average price is $147.54. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.31 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:GOOGLGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm earned $1.17 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors 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 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were 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 $391,132,665.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’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 completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders sold a total of 205,935 shares of company stock worth $31,178,987 in the last 90 days. 11.55% of the stock is owned by company insiders.

Alphabet Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.