B. Riley Wealth Advisors Inc. Has $27.50 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

B. Riley Wealth Advisors Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,851 shares of the information services provider's stock after selling 14,892 shares during the quarter. Alphabet comprises about 0.7% of B. Riley Wealth Advisors Inc.'s portfolio, making the stock its 16th largest holding. B. Riley Wealth Advisors Inc.'s holdings in Alphabet were worth $27,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider's stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. FMR LLC raised its position in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider's stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Norges Bank purchased a new position in Alphabet during the 4th quarter worth approximately $15,441,917,000. Northern Trust Corp raised its position in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider's stock worth $8,857,154,000 after buying an additional 2,416,328 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider's stock worth $6,316,902,000 after buying an additional 1,472,043 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. Bank of America reaffirmed a "buy" rating and set a $200.00 target price on shares of Alphabet in a report on Tuesday, June 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $195.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Argus lifted their target price on shares of Alphabet from $170.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 30th. UBS Group lifted their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a "neutral" rating in a report on Tuesday, April 16th. Finally, TD Cowen lifted their target price on shares of Alphabet from $170.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $193.26.

Alphabet Stock Up 0.3 %

Shares of Alphabet stock traded up $0.45 on Monday, reaching $177.24. 19,604,113 shares of the company were exchanged, compared to its average volume of 28,922,381. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $180.41. The company has a market cap of $2.19 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock's 50 day moving average price is $168.53 and its 200-day moving average price is $151.42.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.17 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet's dividend payout ratio (DPR) is 12.27%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now directly owns 2,310,191 shares of the company's stock, valued at $343,710,216.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company's stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,458 shares of company stock valued at $25,731,103. 11.55% of the stock is currently owned by company 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.