Momentous Wealth Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,815 shares of the information services provider’s stock, valued at approximately $344,000. Alphabet comprises approximately 0.3% of Momentous Wealth Management Inc.’s holdings, making the stock its 22nd largest position.
Several other large investors also recently modified their holdings of GOOGL. Community Bank N.A. boosted its stake in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Absolute Capital Management LLC lifted its position in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the last quarter. Permanent Capital Management LP acquired a new position in Alphabet in the fourth quarter worth about $273,000. Glass Wealth Management Co LLC increased its holdings in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after buying an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC increased its holdings in Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on GOOGL shares. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Roth Mkm reissued a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Piper Sandler reduced their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.
Check Out Our Latest Stock Analysis on GOOGL
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,797 shares of company stock worth $21,089,470. Company insiders own 11.55% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL opened at $145.60 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s 50 day moving average is $175.15 and its 200-day moving average is $176.68. Alphabet Inc. has a 12-month low of $145.38 and a 12-month high of $207.05. The stock has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is 9.94%.
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.
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