Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by RKL Wealth Management LLC

RKL Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 91,878 shares of the information services provider’s stock after selling 1,628 shares during the quarter. Alphabet comprises about 1.5% of RKL Wealth Management LLC’s holdings, making the stock its 14th biggest position. RKL Wealth Management LLC’s holdings in Alphabet were worth $17,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the fourth quarter valued at $30,000. LMR Partners LLP bought a new position in Alphabet in the 3rd quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth about $39,000. Finally, PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.7 %

Shares of NASDAQ:GOOGL opened at $162.80 on Friday. The business’s 50-day moving average is $183.13 and its 200-day moving average is $176.37. Alphabet Inc. has a 1 year low of $146.90 and a 1 year high of $207.05. The company has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 in the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a report on Thursday, February 6th. DA Davidson increased their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.59.

About Alphabet

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.