Verus Financial Partners Inc. Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Verus Financial Partners Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,237 shares of the information services provider’s stock after selling 137 shares during the quarter. Verus Financial Partners Inc.’s holdings in Alphabet were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BLB&B Advisors LLC raised its position in Alphabet by 2.9% during the 3rd quarter. BLB&B Advisors LLC now owns 140,422 shares of the information services provider’s stock valued at $18,376,000 after purchasing an additional 4,013 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of Alphabet by 63.7% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 31,050 shares of the information services provider’s stock valued at $4,063,000 after acquiring an additional 12,080 shares in the last quarter. Wealth Management Partners LLC lifted its stake in Alphabet by 10.6% in the third quarter. Wealth Management Partners LLC now owns 3,205 shares of the information services provider’s stock worth $419,000 after acquiring an additional 306 shares during the period. Segment Wealth Management LLC boosted its holdings in Alphabet by 18.7% in the third quarter. Segment Wealth Management LLC now owns 10,884 shares of the information services provider’s stock valued at $1,424,000 after acquiring an additional 1,715 shares in the last quarter. Finally, Strategic Investment Advisors MI increased its position in Alphabet by 1.6% during the 3rd quarter. Strategic Investment Advisors MI now owns 57,970 shares of the information services provider’s stock valued at $7,586,000 after purchasing an additional 916 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of GOOGL opened at $170.34 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average is $154.03 and its 200 day moving average is $143.91. The stock has a market capitalization of $2.11 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.30 and a beta of 1.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the firm posted $1.17 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOOGL. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Truist Financial increased their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Argus lifted their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Wolfe Research increased their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.60.

View Our Latest Analysis on Alphabet

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,011 shares of company stock worth $37,337,245. 0.88% of the stock is currently owned by company insiders.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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