DORCHESTER WEALTH MANAGEMENT Co cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,014 shares of the information services provider’s stock after selling 274 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Alphabet were worth $4,924,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC raised its stake in Alphabet by 0.8% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 92,781 shares of the information services provider’s stock valued at $17,563,000 after buying an additional 748 shares during the last quarter. Lansing Street Advisors raised its stake in Alphabet by 4.6% during the 4th quarter. Lansing Street Advisors now owns 8,775 shares of the information services provider’s stock valued at $1,661,000 after buying an additional 387 shares during the last quarter. Howard Capital Management Inc. raised its stake in Alphabet by 8.0% during the 4th quarter. Howard Capital Management Inc. now owns 176,942 shares of the information services provider’s stock valued at $33,495,000 after buying an additional 13,118 shares during the last quarter. Wealthspire Advisors LLC raised its stake in Alphabet by 11.3% during the 4th quarter. Wealthspire Advisors LLC now owns 99,011 shares of the information services provider’s stock valued at $18,743,000 after buying an additional 10,034 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in Alphabet by 14.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 2,058 shares of the information services provider’s stock valued at $389,000 after buying an additional 253 shares during the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Up 0.9 %
Shares of NASDAQ:GOOGL opened at $173.86 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $134.00 and a 12 month high of $207.05. The company has a 50-day moving average price of $188.21 and a 200 day moving average price of $176.40. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.34 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on GOOGL shares. Morgan Stanley decreased their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Cantor Fitzgerald reduced their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Piper Sandler reduced their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Citigroup reduced their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.
Get Our Latest Stock Report on GOOGL
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,316 shares of company stock valued at $25,062,887. Insiders own 11.55% of the company’s stock.
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.
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