MN Wealth Advisors LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

MN Wealth Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,044 shares of the information services provider’s stock after selling 83 shares during the period. MN Wealth Advisors LLC’s holdings in Alphabet were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Rockbridge Capital Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $3,119,000. Optivise Advisory Services LLC lifted its holdings in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after buying an additional 403 shares during the period. Community Bank N.A. lifted its holdings in shares of Alphabet by 6.4% in 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 buying an additional 2,790 shares during the period. Premier Fund Managers Ltd lifted its holdings in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after buying an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC raised its holdings in Alphabet by 14.0% in the 4th 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 period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GOOGL shares. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. KeyCorp upped their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Finally, Tigress Financial upped their price target on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Trading Down 3.9%

Shares of Alphabet stock opened at $166.64 on Friday. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average of $164.77 and a 200 day moving average of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,070 shares of company stock worth $37,745,632. Company insiders own 11.64% of the company’s stock.

Alphabet Company 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.