Altus Wealth Management LLC Sells 464 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Altus Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,231 shares of the information services provider’s stock after selling 464 shares during the quarter. Alphabet makes up approximately 0.3% of Altus Wealth Management LLC’s holdings, making the stock its 24th largest holding. Altus Wealth Management LLC’s holdings in Alphabet were worth $488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Sound Income Strategies LLC increased its position in shares of Alphabet by 12.1% in the 1st quarter. Sound Income Strategies LLC now owns 35,795 shares of the information services provider’s stock valued at $5,403,000 after buying an additional 3,857 shares in the last quarter. Ayalon Insurance Comp Ltd. increased its holdings in Alphabet by 32.0% during the 1st quarter. Ayalon Insurance Comp Ltd. now owns 15,407 shares of the information services provider’s stock worth $2,325,000 after purchasing an additional 3,732 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. increased its holdings in Alphabet by 85.1% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 36,533 shares of the information services provider’s stock worth $5,704,000 after purchasing an additional 16,793 shares in the last quarter. Hoxton Planning & Management LLC increased its holdings in Alphabet by 2.1% during the 1st quarter. Hoxton Planning & Management LLC now owns 9,136 shares of the information services provider’s stock worth $1,379,000 after purchasing an additional 187 shares in the last quarter. Finally, DLK Investment Management LLC increased its holdings in Alphabet by 6.2% during the 1st quarter. DLK Investment Management LLC now owns 2,394 shares of the information services provider’s stock worth $361,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Loop Capital increased their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Needham & Company LLC raised their target price on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. 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. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $215.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Five equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.69.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $185.41 on Friday. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. The company’s 50 day simple moving average is $171.70 and its 200 day simple moving average is $153.58.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the business posted $1.17 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock worth $24,534,393 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

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.