Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by Centurion Wealth Management LLC

Centurion Wealth Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,633 shares of the information services provider’s stock after selling 1,655 shares during the period. Centurion Wealth Management LLC’s holdings in Alphabet were worth $1,634,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOGL. Tumwater Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $473,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Alphabet by 6.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 468,443 shares of the information services provider’s stock worth $88,676,000 after buying an additional 29,303 shares in the last quarter. Ascent Capital Management LLC acquired a new position in Alphabet in the fourth quarter worth approximately $789,000. Ironsides Asset Advisors LLC increased its holdings in shares of Alphabet by 32.1% in the fourth quarter. Ironsides Asset Advisors LLC now owns 2,951 shares of the information services provider’s stock valued at $559,000 after buying an additional 717 shares in the last quarter. Finally, Hutchinson Capital Management CA lifted its position in shares of Alphabet by 1.3% during the 4th quarter. Hutchinson Capital Management CA now owns 146,795 shares of the information services provider’s stock valued at $27,788,000 after acquiring an additional 1,885 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,812 shares of company stock worth $19,336,979. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.7 %

Alphabet stock opened at $162.24 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The firm has a fifty day moving average price of $180.49 and a two-hundred day moving average price of $176.68. The firm has a market cap of $1.98 trillion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 return on equity of 32.49% and a net margin of 28.60%. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GOOGL shares. Roth Mkm restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley reduced their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet 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.