Alphabet Inc. (NASDAQ:GOOGL) is Signify Wealth’s 7th Largest Position

Signify Wealth decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,961 shares of the information services provider’s stock after selling 1,316 shares during the quarter. Alphabet comprises 6.8% of Signify Wealth’s holdings, making the stock its 7th largest position. Signify Wealth’s holdings in Alphabet were worth $4,729,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new stake in Alphabet during the first quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC lifted its position in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $26,823,893 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $164.68 on Wednesday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 25.26, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s fifty day moving average price is $174.51 and its 200 day moving average price is $163.44.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, August 14th. UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Guggenheim raised their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.74.

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.