Graves Light Lenhart Wealth Inc. Cuts Stock Holdings in Alphabet Inc. $GOOGL

Graves Light Lenhart Wealth Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the third quarter, Holdings Channel.com reports. The fund owned 74,169 shares of the information services provider’s stock after selling 2,962 shares during the period. Alphabet makes up about 2.0% of Graves Light Lenhart Wealth Inc.’s investment portfolio, making the stock its 14th largest position. Graves Light Lenhart Wealth Inc.’s holdings in Alphabet were worth $18,031,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet during the second quarter valued at $31,000. CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares during the last quarter. S&T Bank PA boosted its holdings in shares of Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 99 shares during the last quarter. Finally, Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 77.6% in the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after acquiring an additional 152 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, December 15th. The shares were sold at an average price of $312.30, for a total transaction of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares in the company, valued at approximately $2,798,832.60. The trade was a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $308.19, for a total transaction of $184,914.00. Following the completion of the transaction, the director directly owned 3,916 shares of the company’s stock, valued at $1,206,872.04. This represents a 13.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 226,128 shares of company stock valued at $63,183,331 over the last 90 days. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. BNP Paribas assumed coverage on Alphabet in a report on Monday, November 24th. They set an “outperform” rating and a $355.00 price target on the stock. Bank of America raised their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Barclays reiterated an “overweight” rating and set a $315.00 price objective (up previously from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Melius Research increased their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.18.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $302.46 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50-day simple moving average of $287.77 and a two-hundred day simple moving average of $232.84. The firm has a market capitalization of $3.65 trillion, a PE ratio of 29.83, a P/E/G ratio of 1.72 and a beta of 1.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

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.