Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,670 shares of the information services provider’s stock after selling 2,795 shares during the period. Alphabet makes up approximately 0.7% of Gitterman Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Gitterman Wealth Management LLC’s holdings in Alphabet were worth $1,490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC lifted its holdings in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the period. Armor Investment Advisors LLC lifted its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the period. IAG Wealth Partners LLC lifted its holdings in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,129 shares of company stock worth $40,382,765. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wedbush boosted their price target on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Citigroup boosted their price target on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price target on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Roth Mkm boosted their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Up 0.5 %

Shares of NASDAQ:GOOGL opened at $168.10 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $150.75 and a two-hundred day moving average of $142.58. The stock has a market cap of $2.08 trillion, a P/E ratio of 25.78, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a 52-week low of $105.16 and a 52-week high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The business 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

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.