Alphabet Inc. (NASDAQ:GOOGL) Stake Lessened by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,778 shares of the information services provider’s stock after selling 10,562 shares during the quarter. Alphabet makes up 2.0% of Valley Wealth Managers Inc.’s portfolio, making the stock its 6th biggest holding. Valley Wealth Managers Inc.’s holdings in Alphabet were worth $25,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. lifted its holdings in Alphabet by 1.5% during the second quarter. GHP Investment Advisors Inc. now owns 26,078 shares of the information services provider’s stock valued at $4,750,000 after purchasing an additional 379 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in Alphabet by 45.5% in the 2nd quarter. Meeder Advisory Services Inc. now owns 100,375 shares of the information services provider’s stock worth $18,283,000 after buying an additional 31,380 shares during the period. Ullmann Wealth Partners Group LLC increased its stake in Alphabet by 18.7% in the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 8,571 shares of the information services provider’s stock worth $1,561,000 after buying an additional 1,353 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Alphabet by 4.3% during the second quarter. Oppenheimer & Co. Inc. now owns 470,556 shares of the information services provider’s stock valued at $85,712,000 after acquiring an additional 19,283 shares during the period. Finally, Financial Alternatives Inc lifted its position in shares of Alphabet by 11.6% in the second quarter. Financial Alternatives Inc now owns 1,507 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 157 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.7 %

GOOGL opened at $163.95 on Friday. The company has a market cap of $2.03 trillion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a 50 day moving average price of $163.11 and a 200 day moving average price of $166.11.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the company posted $1.44 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. 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 owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders sold 180,867 shares of company stock valued at $29,878,106 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Finally, DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.35.

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.