Prentice Wealth Management LLC Has $1.02 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Prentice Wealth Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,749 shares of the information services provider’s stock after selling 506 shares during the period. Prentice Wealth Management LLC’s holdings in Alphabet were worth $1,019,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $38,000. Meritage Group LP increased its position in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares in the last quarter. Armor Investment Advisors LLC increased its position in Alphabet by 31.0% in the 4th 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 in the last quarter. Finally, IAG Wealth Partners LLC increased its position in Alphabet by 55.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. Evercore ISI raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Wells Fargo & Company raised their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Mizuho raised their target price on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Roth Mkm raised their target price on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $193.69.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,284 shares of company stock worth $24,534,393. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $183.88 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $184.51. The company has a market capitalization of $2.27 trillion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. The firm’s 50 day moving average is $171.13 and its 200-day moving average is $153.36.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the company earned $1.17 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s payout ratio is 12.27%.

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.