RKL Wealth Management LLC Sells 116 Shares of Alphabet Inc. (NASDAQ:GOOGL)

RKL Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,050 shares of the information services provider’s stock after selling 116 shares during the quarter. Alphabet accounts for 1.4% of RKL Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. RKL Wealth Management LLC’s holdings in Alphabet were worth $13,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 0.3% during the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after purchasing an additional 1,302,104 shares in the last quarter. FMR LLC lifted its holdings in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. State Street Corp lifted its holdings in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after acquiring an additional 1,499,107 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the sale, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last three months, insiders sold 250,539 shares of company stock valued at $35,906,259. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Citigroup reissued a “buy” rating and issued a $168.00 target price on shares of Alphabet in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Alphabet in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, KeyCorp raised their price objective on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.61.

Alphabet Price Performance

Shares of GOOGL stock opened at $157.73 on Friday. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.05. The stock has a 50 day moving average price of $145.33 and a 200 day moving average price of $139.80.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period last year, the company earned $1.05 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.