Raab & Moskowitz Asset Management LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Raab & Moskowitz Asset Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,451 shares of the information services provider’s stock after selling 871 shares during the quarter. Alphabet accounts for about 1.8% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its 11th largest position. Raab & Moskowitz Asset Management LLC’s holdings in Alphabet were worth $5,651,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Northern Trust Corp lifted its stake in Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after purchasing an additional 2,416,328 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Alphabet by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after buying an additional 335,219 shares during the period. American Century Companies Inc. grew its stake in shares of Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after buying an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after buying an additional 2,058,221 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $167.24 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $150.14 and its 200-day moving average price is $142.32. Alphabet Inc. has a 52-week low of $103.97 and a 52-week high of $174.71. The company has a market cap of $2.08 trillion, a PE ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, analysts anticipate that Alphabet Inc. will post 7.57 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOGL. Evercore ISI increased their price objective on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Wolfe Research upped their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Barclays raised their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. BMO Capital Markets upped their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Canaccord Genuity Group boosted their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on 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 directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock valued at $40,382,765. 0.88% 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.