1858 Wealth Management LLC Sells 1,870 Shares of Alphabet Inc. (NASDAQ:GOOGL)

1858 Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 38.1% during the third quarter, HoldingsChannel reports. The firm owned 3,038 shares of the information services provider’s stock after selling 1,870 shares during the quarter. 1858 Wealth Management LLC’s holdings in Alphabet were worth $504,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in 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. Tributary Capital Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $30,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 1.9 %

Shares of NASDAQ:GOOGL opened at $171.11 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75. The company has a 50 day moving average price of $162.32 and a 200 day moving average price of $168.79.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the business posted $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.65 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday. Mizuho increased 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. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America upped their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the 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 owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the transaction, the director now owns 26,324 shares in the company, valued at approximately $4,342,143.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,744 shares of company stock worth $35,878,764 over the last three months. 11.55% of the stock is currently owned by insiders.

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.