CJM Wealth Advisers Ltd. Has $1.19 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

CJM Wealth Advisers Ltd. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,248 shares of the information services provider’s stock after selling 302 shares during the quarter. Alphabet makes up 0.4% of CJM Wealth Advisers Ltd.’s investment portfolio, making the stock its 23rd largest holding. CJM Wealth Advisers Ltd.’s holdings in Alphabet were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter valued at $25,000. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the 3rd quarter valued at about $33,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six equities 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Down 0.7 %

GOOG stock opened at $195.39 on Friday. 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 firm has a market cap of $2.39 trillion, a P/E ratio of 25.91, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The business’s 50 day moving average is $183.71 and its 200-day moving average is $174.52.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,887 shares of company stock worth $27,996,356. 12.99% of the stock is owned by corporate insiders.

Alphabet 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.