Perissos Private Wealth Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Perissos Private Wealth Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,830 shares of the information services provider’s stock after selling 654 shares during the period. Alphabet comprises 2.1% of Perissos Private Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Perissos Private Wealth Management LLC’s holdings in Alphabet were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the first quarter worth approximately $30,000. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter worth $36,000. Finally, Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,605 shares of company stock valued at $29,277,931. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $163.95 on Monday. The firm has a market cap of $2.03 trillion, a PE ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $162.83 and a 200 day moving average price of $166.68.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the company posted $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOOGL shares. Morgan Stanley cut their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Piper Sandler lowered their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Company 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.