Chemistry Wealth Management LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Chemistry Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,521 shares of the information services provider’s stock after selling 113 shares during the period. Alphabet makes up approximately 1.3% of Chemistry Wealth Management LLC’s holdings, making the stock its 15th biggest position. Chemistry Wealth Management LLC’s holdings in Alphabet were worth $5,399,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOGL. State Street Corp boosted its holdings in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its position in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC increased its stake in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.6 %

Alphabet stock opened at $196.00 on Monday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a market cap of $2.40 trillion, a PE ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50-day simple moving average is $184.43 and its two-hundred day simple moving average is $173.34.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price target on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.