Thrive Wealth Management LLC Sells 86 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Thrive Wealth Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the first quarter, Holdings Channel.com reports. The fund owned 12,616 shares of the information services provider’s stock after selling 86 shares during the period. Thrive Wealth Management LLC’s holdings in Alphabet were worth $1,951,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased 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 purchasing an additional 4,567,275 shares during the last quarter. Wealth Group Ltd. grew its stake in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after buying an additional 78 shares in the last quarter. Capital & Planning LLC grew its stake in shares of Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after buying an additional 1,119 shares in the last quarter. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Wells Fargo & Company raised their price target on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. Finally, Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,770 shares of company stock worth $32,036,638. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 1.1%

Alphabet stock opened at $168.05 on Thursday. 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 stock has a market capitalization of $2.04 trillion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business has a 50 day simple moving average of $159.54 and a 200-day simple moving average of $174.43. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its 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. The company had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the company posted $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) 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.