Powell Investment Advisors LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

Powell Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,670 shares of the information services provider’s stock after selling 660 shares during the quarter. Powell Investment Advisors LLC’s holdings in Alphabet were worth $652,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Meritage Group LP boosted its position in 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. Macroview Investment Management LLC lifted its position in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. Armor Investment Advisors LLC lifted its position 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 acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $55,000. Finally, LFA Lugano Financial Advisors SA lifted its position in shares of Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after acquiring an additional 392 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL stock opened at $171.95 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 1 year low of $103.54 and a 1 year high of $174.71. The firm has a market cap of $2.14 trillion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The stock has a 50-day simple moving average of $147.85 and a 200-day simple moving average of $141.42.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the firm earned $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.82 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,439 shares of company stock valued at $36,746,578. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOGL shares. Wedbush upped their price objective on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Redburn Atlantic upped their price objective on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Oppenheimer upped their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $187.82.

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.