Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Cut by Xcel Wealth Management LLC

Xcel Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 91,808 shares of the information services provider’s stock after selling 3,318 shares during the period. Alphabet accounts for about 4.8% of Xcel Wealth Management LLC’s portfolio, making the stock its 4th largest position. Xcel Wealth Management LLC’s holdings in Alphabet were worth $17,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GOOGL. Proficio Capital Partners LLC raised its stake in Alphabet by 20,990.0% during the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after purchasing an additional 6,157,413 shares in the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 7.7% during the third 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alphabet during the third quarter valued at $513,024,000. Geode Capital Management LLC increased its position in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Alphabet by 26.9% during the third quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock valued at $1,669,300,000 after acquiring an additional 2,136,128 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $165.49 on Friday. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 20.56, a PEG ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $185.70 and a 200 day moving average price of $176.38. Alphabet Inc. has a 52 week low of $140.03 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley dropped their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Bank of America reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald dropped their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,882 shares of company stock worth $17,934,130. 11.55% of the stock is owned by company insiders.

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.