Amplius Wealth Advisors LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Amplius Wealth Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,197 shares of the information services provider’s stock after selling 91 shares during the quarter. Amplius Wealth Advisors LLC’s holdings in Alphabet were worth $1,561,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. LaFleur & Godfrey LLC raised its position in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock worth $6,088,000 after purchasing an additional 380 shares during the period. Cove Private Wealth LLC increased its position in shares of Alphabet by 40.2% in the fourth quarter. Cove Private Wealth LLC now owns 25,404 shares of the information services provider’s stock valued at $4,838,000 after acquiring an additional 7,285 shares during the period. Zhang Financial LLC increased its position in shares of Alphabet by 6.5% in the fourth quarter. Zhang Financial LLC now owns 14,466 shares of the information services provider’s stock valued at $2,755,000 after acquiring an additional 883 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Alphabet by 5.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 238,750 shares of the information services provider’s stock valued at $45,468,000 after acquiring an additional 11,714 shares during the period. Finally, Corundum Group Inc. increased its position in shares of Alphabet by 26.1% in the fourth quarter. Corundum Group Inc. now owns 10,307 shares of the information services provider’s stock valued at $1,963,000 after acquiring an additional 2,133 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2 %

NASDAQ:GOOG opened at $200.03 on Thursday. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50-day simple moving average is $186.56 and its 200 day simple moving average is $174.89. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 26.53, a PEG ratio of 1.25 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.

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.