SMART Wealth LLC Sells 879 Shares of Alphabet Inc. (NASDAQ:GOOGL)

SMART Wealth LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,770 shares of the information services provider’s stock after selling 879 shares during the quarter. SMART Wealth LLC’s holdings in Alphabet were worth $459,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lantz Financial LLC increased its stake in Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after acquiring an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC bought a new position in Alphabet in the second quarter valued at approximately $218,000. ERn Financial LLC increased its stake in Alphabet by 2.5% in the second quarter. ERn Financial LLC now owns 17,011 shares of the information services provider’s stock valued at $3,098,000 after acquiring an additional 416 shares during the last quarter. Evolution Wealth Advisors LLC increased its stake in Alphabet by 28.4% in the second quarter. Evolution Wealth Advisors LLC now owns 14,133 shares of the information services provider’s stock valued at $2,577,000 after acquiring an additional 3,129 shares during the last quarter. Finally, Old Port Advisors increased its stake in Alphabet by 2.9% in the second quarter. Old Port Advisors now owns 16,483 shares of the information services provider’s stock valued at $3,002,000 after acquiring an additional 460 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,957 shares of company stock valued at $31,358,687 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday. Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Trading Up 1.5 %

GOOGL opened at $191.41 on Friday. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.34 trillion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a fifty day moving average price of $174.55 and a two-hundred day moving average price of $171.33.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm posted $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

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.