Cabot Wealth Management Inc. Sells 554 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cabot Wealth Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,795 shares of the information services provider’s stock after selling 554 shares during the period. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $2,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Pettinga Financial Advisors LLC increased its stake in shares of Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after purchasing an additional 201 shares during the last quarter. Ellis Investment Partners LLC increased its stake in shares of Alphabet by 0.5% in the 3rd quarter. Ellis Investment Partners LLC now owns 29,361 shares of the information services provider’s stock valued at $4,869,000 after purchasing an additional 157 shares during the last quarter. OMNI 360 Wealth Inc. increased its stake in shares of Alphabet by 42.4% in the 3rd quarter. OMNI 360 Wealth Inc. now owns 3,488 shares of the information services provider’s stock valued at $578,000 after purchasing an additional 1,039 shares during the last quarter. Motiv8 Investments LLC increased its stake in shares of Alphabet by 4.7% in the 3rd quarter. Motiv8 Investments LLC now owns 5,434 shares of the information services provider’s stock valued at $901,000 after purchasing an additional 242 shares during the last quarter. Finally, First Financial Bankshares Inc increased its stake in shares of Alphabet by 1.4% in the 3rd quarter. First Financial Bankshares Inc now owns 409,273 shares of the information services provider’s stock valued at $67,878,000 after purchasing an additional 5,638 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOGL shares. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company raised their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, DA Davidson raised their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,316 shares of company stock worth $25,062,887. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $173.86 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day moving average price of $188.21 and a two-hundred day moving average price of $176.47. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 21.60, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52 week low of $134.00 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is presently 9.94%.

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.