Powell Investment Advisors LLC Has $652,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Powell Investment Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,670 shares of the information services provider’s stock after selling 660 shares during the period. Powell Investment Advisors LLC’s holdings in Alphabet were worth $652,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. raised its holdings in Alphabet by 4.7% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 16,729 shares of the information services provider’s stock valued at $2,337,000 after acquiring an additional 746 shares in the last quarter. Pathway Financial Advisors LLC raised its holdings in Alphabet by 129.5% in the 4th quarter. Pathway Financial Advisors LLC now owns 6,380 shares of the information services provider’s stock valued at $891,000 after acquiring an additional 3,600 shares in the last quarter. Robbins Farley grew its stake in shares of Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of Alphabet by 1.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 68,373 shares of the information services provider’s stock valued at $9,551,000 after purchasing an additional 1,146 shares during the period. Finally, Calamos Wealth Management LLC grew its stake in shares of Alphabet by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 348,022 shares of the information services provider’s stock valued at $48,615,000 after purchasing an additional 1,355 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GOOGL shares. Canaccord Genuity Group upped their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush upped their price objective on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday. Rosenblatt Securities upped their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley upped their price objective on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.95 on Monday. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.54 and a 12 month high of $174.71. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $147.85 and its 200 day simple moving average is $141.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 business posted $1.05 EPS. On average, research analysts predict that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. Corporate insiders own 0.88% of the company’s stock.

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.