EPG Wealth Management LLC Sells 605 Shares of Alphabet Inc. (NASDAQ:GOOG)

EPG Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,308 shares of the information services provider’s stock after selling 605 shares during the quarter. EPG Wealth Management LLC’s holdings in Alphabet were worth $1,011,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new stake in Alphabet in the fourth quarter worth $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GOOG shares. Susquehanna restated a “positive” rating on shares of Alphabet in a report on Friday. Scotiabank decreased their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $203.94.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 146,824 shares of company stock valued at $25,086,603 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.5 %

Shares of NASDAQ:GOOG opened at $165.20 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $161.97 and its 200-day moving average price is $177.17. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 EPS. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

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.