Wealth Advisors of Tampa Bay LLC Has $6.20 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Wealth Advisors of Tampa Bay LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,748 shares of the information services provider’s stock after selling 180 shares during the quarter. Alphabet comprises 2.7% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 8th biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in Alphabet were worth $6,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GOOGL. State Street Corp raised its position in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. Norges Bank acquired a new stake in Alphabet during the fourth quarter valued at approximately $24,383,677,000. Wellington Management Group LLP boosted its holdings in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. DA Davidson raised their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler decreased their target price on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Wedbush boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $206.51.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,797 shares of company stock valued at $21,089,470 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.8 %

GOOGL stock opened at $157.14 on Friday. 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 company has a 50-day moving average of $168.52 and a two-hundred day moving average of $176.22. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.