Adams Wealth Management Sells 87 Shares of Alphabet Inc. (NASDAQ:GOOG)

Adams Wealth Management lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,268 shares of the information services provider’s stock after selling 87 shares during the quarter. Adams Wealth Management’s holdings in Alphabet were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter worth $27,000. LSV Asset Management bought a new position in Alphabet in the 4th quarter worth $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GOOG. Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. KeyCorp decreased their target price on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Scotiabank upped their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.88.

Alphabet Stock Down 1.4 %

Shares of Alphabet stock opened at $153.36 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $1.87 trillion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. The firm’s 50-day moving average is $167.84 and its two-hundred day moving average is $177.58.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,663 shares of company stock worth $20,286,447 in the last three months. 12.99% of the stock is owned by insiders.

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.