Abacus Wealth Partners LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Abacus Wealth Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,662 shares of the information services provider’s stock after selling 122 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Alphabet were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Conrad Siegel Investment Advisors Inc. boosted its stake in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after buying an additional 53 shares during the last quarter. Denver PWM LLC raised its holdings in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Ignite Planners LLC boosted its position in shares of Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after acquiring an additional 57 shares during the last quarter. Fermata Advisors LLC boosted its position in shares of Alphabet by 0.8% during the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after acquiring an additional 57 shares during the last quarter. Finally, Winch Advisory Services LLC increased its position in Alphabet by 1.3% during the fourth quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after purchasing an additional 58 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GOOGL shares. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley increased their target price on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.44.

Alphabet Stock Up 1.1 %

GOOGL stock opened at $200.21 on Friday. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a fifty day moving average price of $185.91 and a 200 day moving average price of $173.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 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 business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the company earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 over the last 90 days. 11.55% of the stock is currently owned by insiders.

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.