Monterey Private Wealth Inc. Sells 268 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Monterey Private Wealth Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,499 shares of the information services provider’s stock after selling 268 shares during the period. Alphabet makes up approximately 1.0% of Monterey Private Wealth Inc.’s holdings, making the stock its 20th largest holding. Monterey Private Wealth Inc.’s holdings in Alphabet were worth $2,902,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its position in shares of 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 acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the second quarter valued at approximately $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $30,000. Denver PWM LLC acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $41,000. Finally, Quarry LP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GOOGL shares. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. BMO Capital Markets dropped their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. TD Securities boosted their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, Loop Capital reiterated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Stock Up 0.7 %

NASDAQ:GOOGL opened at $163.24 on Monday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a 50-day moving average price of $161.37 and a two-hundred day moving average price of $167.86. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm earned $1.44 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 11.55% of the company’s stock.

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.