Sendero Wealth Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sendero Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 126,119 shares of the information services provider’s stock after selling 582 shares during the period. Alphabet makes up 3.3% of Sendero Wealth Management LLC’s holdings, making the stock its 4th largest position. Sendero Wealth Management LLC’s holdings in Alphabet were worth $19,035,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $15,441,917,000. Fisher Asset Management LLC increased its position in shares of Alphabet by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after buying an additional 1,472,043 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Alphabet by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock worth $4,876,605,000 after buying an additional 874,919 shares during the period. Finally, Capital International Investors lifted its holdings in Alphabet by 2.3% during the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock worth $4,247,868,000 after acquiring an additional 686,514 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,026 shares of company stock valued at $24,026,243. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial boosted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. TD Cowen lifted their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday. JPMorgan Chase & Co. lifted their target price on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company increased their price target on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Get Our Latest Research Report on Alphabet

Alphabet Stock Down 1.8 %

GOOGL stock opened at $182.15 on Monday. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The business has a 50-day simple moving average of $172.85 and a 200 day simple moving average of $154.44. 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 company has a market cap of $2.25 trillion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 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 net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the company earned $1.17 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s payout ratio is 12.27%.

About Alphabet

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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