Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Tanager Wealth Management LLP

Tanager Wealth Management LLP lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,590 shares of the information services provider’s stock after selling 1,454 shares during the quarter. Alphabet makes up 0.5% of Tanager Wealth Management LLP’s investment portfolio, making the stock its 28th biggest position. Tanager Wealth Management LLP’s holdings in Alphabet were worth $3,016,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management lifted its holdings in Alphabet by 0.8% during the 3rd quarter. Cardinal Capital Management now owns 64,895 shares of the information services provider’s stock worth $8,492,000 after buying an additional 525 shares during the last quarter. Altus Wealth Management LLC lifted its holdings in Alphabet by 40.3% during the 3rd quarter. Altus Wealth Management LLC now owns 3,339 shares of the information services provider’s stock worth $437,000 after buying an additional 959 shares during the last quarter. Tevis Investment Management lifted its holdings in Alphabet by 1.2% during the 3rd quarter. Tevis Investment Management now owns 9,876 shares of the information services provider’s stock worth $1,292,000 after buying an additional 117 shares during the last quarter. First Affirmative Financial Network lifted its holdings in Alphabet by 7.2% during the 3rd quarter. First Affirmative Financial Network now owns 8,685 shares of the information services provider’s stock worth $1,136,000 after buying an additional 582 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in Alphabet by 1.8% during the 3rd quarter. Arcus Capital Partners LLC now owns 8,671 shares of the information services provider’s stock worth $1,135,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler reissued an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a report on Friday. JMP Securities raised their price target on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday. KeyCorp raised their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Morgan Stanley raised their price target on Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $187.82.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last quarter. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $171.95 on Friday. The firm has a market cap of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $147.85 and a 200-day simple moving average of $141.42. Alphabet Inc. has a fifty-two week low of $103.54 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.