Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Wealth Effects LLC

Wealth Effects LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 35,351 shares of the information services provider’s stock after selling 191 shares during the period. Alphabet accounts for approximately 2.3% of Wealth Effects LLC’s portfolio, making the stock its 7th biggest position. Wealth Effects LLC’s holdings in Alphabet were worth $6,439,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the first quarter worth $30,000. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter worth $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.8 %

GOOGL opened at $159.32 on Wednesday. The company’s 50 day moving average is $166.25 and its 200-day moving average is $165.17. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.97 trillion, a P/E ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the company posted $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $30,139,931 in the last quarter. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. TD Securities upped their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $201.08.

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.