Monetary Management Group Inc. Has $9.48 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Monetary Management Group Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,075 shares of the information services provider’s stock after selling 6,425 shares during the quarter. Alphabet makes up 2.5% of Monetary Management Group Inc.’s investment portfolio, making the stock its 8th largest holding. Monetary Management Group Inc.’s holdings in Alphabet were worth $9,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp boosted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of Alphabet in the fourth quarter worth about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOGL. Wells Fargo & Company decreased their target price on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. Piper Sandler decreased their price target on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $204.72.

Alphabet Stock Down 1.7 %

NASDAQ GOOGL opened at $156.31 on Wednesday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $167.17 and a two-hundred day moving average of $176.14.

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

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,663 shares of company stock valued at $20,286,447 in the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.