B. Riley Wealth Advisors Inc. Lowers Stock Holdings in Alphabet Inc. $GOOGL

B. Riley Wealth Advisors Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,180 shares of the information services provider’s stock after selling 8,574 shares during the period. Alphabet comprises 0.8% of B. Riley Wealth Advisors Inc.’s holdings, making the stock its 18th largest position. B. Riley Wealth Advisors Inc.’s holdings in Alphabet were worth $18,276,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Signature Wealth Management Partners LLC lifted its stake in Alphabet by 4.2% in the 2nd quarter. Signature Wealth Management Partners LLC now owns 11,530 shares of the information services provider’s stock valued at $2,032,000 after buying an additional 464 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its holdings in Alphabet by 2.4% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 146,754 shares of the information services provider’s stock worth $25,862,000 after buying an additional 3,466 shares during the last quarter. Finally, McNaughton Wealth Management LLC increased its stake in Alphabet by 6.8% during the 2nd quarter. McNaughton Wealth Management LLC now owns 8,323 shares of the information services provider’s stock worth $1,467,000 after buying an additional 529 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.5%

Shares of GOOGL stock opened at $324.32 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00. The company’s 50-day moving average price is $321.80 and its 200-day moving average price is $272.22. The stock has a market cap of $3.91 trillion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.78 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 9th. Alphabet’s payout ratio is presently 7.77%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their target price on Alphabet from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Rosenblatt Securities lifted their target price on shares of Alphabet from $279.00 to $357.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $375.00 target price (up previously from $330.00) on shares of Alphabet in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $370.00 price target on shares of Alphabet in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $357.46.

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Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares in the company, valued at $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,067,686 shares of company stock valued at $105,352,291. Insiders own 11.55% of the company’s stock.

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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