CJM Wealth Advisers Ltd. Sells 302 Shares of Alphabet Inc. (NASDAQ:GOOG)

10 Jan 2025, 12:37 by Sarita Garza · The Markets Daily

CJM Wealth Advisers Ltd. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.6% during the fourth quarter, HoldingsChannel reports. The firm owned 6,248 shares of the information services provider’s stock after selling 302 shares during the quarter. Alphabet comprises 0.4% of CJM Wealth Advisers Ltd.’s portfolio, making the stock its 23rd largest holding. CJM Wealth Advisers Ltd.’s holdings in Alphabet were worth $1,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its position in shares of Alphabet by 0.7% in the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in Alphabet by 0.4% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,545 shares of the information services provider’s stock valued at $21,624,000 after buying an additional 418 shares in the last quarter. Legacy Private Trust Co. boosted its holdings in shares of Alphabet by 34.1% in the fourth quarter. Legacy Private Trust Co. now owns 9,538 shares of the information services provider’s stock valued at $1,816,000 after buying an additional 2,424 shares during the period. Farmers Trust Co. increased its position in shares of Alphabet by 12.9% during the fourth quarter. Farmers Trust Co. now owns 3,243 shares of the information services provider’s stock worth $618,000 after acquiring an additional 371 shares in the last quarter. Finally, Private Client Services LLC raised its holdings in shares of Alphabet by 15.3% during the fourth quarter. Private Client Services LLC now owns 10,099 shares of the information services provider’s stock worth $1,923,000 after acquiring an additional 1,337 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $195.39 on Friday. The firm has a 50 day moving average of $183.71 and a 200-day moving average of $174.52. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.91, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the business posted $1.55 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This trade represents a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,887 shares of company stock valued at $27,996,356. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOG. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Jefferies Financial Group raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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