Private Advisory Group LLC Sells 3,184 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Private Advisory Group LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,696 shares of the information services provider’s stock after selling 3,184 shares during the quarter. Private Advisory Group LLC’s holdings in Alphabet were worth $2,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Alphabet during the fourth quarter valued at about $1,328,000. Parkside Financial Bank & Trust lifted its position in shares of Alphabet by 63.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 32,322 shares of the information services provider’s stock valued at $4,515,000 after buying an additional 12,559 shares in the last quarter. Pacific Wealth Strategies Group Inc. lifted its position in shares of Alphabet by 0.6% during the 4th quarter. Pacific Wealth Strategies Group Inc. now owns 22,796 shares of the information services provider’s stock valued at $3,184,000 after buying an additional 144 shares in the last quarter. Community Bank & Trust Waco Texas grew its stake in shares of Alphabet by 7.4% during the 4th quarter. Community Bank & Trust Waco Texas now owns 45,928 shares of the information services provider’s stock valued at $6,416,000 after acquiring an additional 3,147 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of Alphabet by 0.4% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 61,447 shares of the information services provider’s stock valued at $8,584,000 after acquiring an additional 258 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock worth $26,823,893 over the last quarter. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GOOGL shares. Piper Sandler upped their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Evercore ISI lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Finally, UBS Group upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Six equities research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $161.78 on Friday. 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 Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.28 and a beta of 1.05. The firm’s 50-day moving average is $174.06 and its 200 day moving average is $163.55.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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. 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 analyst estimates of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.