EPG Wealth Management LLC Sells 4,145 Shares of Alphabet Inc. $GOOGL

EPG Wealth Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 23,299 shares of the information services provider’s stock after selling 4,145 shares during the period. Alphabet makes up about 1.2% of EPG Wealth Management LLC’s holdings, making the stock its 17th largest holding. EPG Wealth Management LLC’s holdings in Alphabet were worth $4,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $4,317,606,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi increased its position in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. lifted its holdings in shares of Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after buying an additional 2,565,400 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $276.41 on Friday. The firm has a market capitalization of $3.34 trillion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $292.01. The firm has a 50-day moving average price of $257.24 and a 200 day moving average price of $208.59.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their price objective on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. BNP Paribas Exane raised their price target on shares of Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Jefferies Financial Group upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Citigroup reiterated a “buy” rating and issued a $343.00 target price (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Stifel Nicolaus set a $333.00 price target on Alphabet in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,796 shares of company stock worth $53,983,001 over the last three months. 11.55% of the stock is currently owned by corporate 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.