RMR Wealth Builders Sells 5,229 Shares of Alphabet Inc. (NASDAQ:GOOGL)

RMR Wealth Builders decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,955 shares of the information services provider's stock after selling 5,229 shares during the quarter. RMR Wealth Builders' holdings in Alphabet were worth $3,210,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Schear Investment Advisers LLC raised its position in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock worth $5,598,000 after acquiring an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC lifted its stake in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock valued at $771,000 after purchasing an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock worth $4,192,000 after purchasing an additional 5,516 shares during the period. abrdn plc increased its position in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock worth $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its stake in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider's stock valued at $3,567,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GOOGL shares. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 26th. The Goldman Sachs Group reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Morgan Stanley raised their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,368 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 in the last quarter. Insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.0 %

Shares of GOOGL stock traded down $1.91 on Friday, reaching $192.04. 26,604,539 shares of the company were exchanged, compared to its average volume of 24,413,225. 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 has a 50-day moving average of $182.62 and a 200-day moving average of $173.10. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

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 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.