Gitterman Wealth Management LLC Has $1.49 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Gitterman Wealth Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,670 shares of the information services provider’s stock after selling 2,795 shares during the period. Alphabet accounts for approximately 0.7% of Gitterman Wealth Management LLC’s holdings, making the stock its 9th largest position. Gitterman Wealth Management LLC’s holdings in Alphabet were worth $1,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Meritage Group LP lifted its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC lifted its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC lifted its position in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the last quarter. IAG Wealth Partners LLC lifted its position in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last quarter. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GOOGL shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Wolfe Research lifted their price target on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Raymond James lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, JMP Securities lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $168.10 on Tuesday. The firm’s 50-day moving average price is $150.75 and its 200-day moving average price is $142.58. Alphabet Inc. has a 1-year low of $105.16 and a 1-year high of $174.71. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 25.78, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the business earned $1.17 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%.

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.