Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 51.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,258 shares of the information services provider’s stock after selling 1,315 shares during the quarter. LGT Financial Advisors LLC’s holdings in Alphabet were worth $229,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the first quarter worth $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter worth $36,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. DA Davidson started coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. TD Securities upped their target price on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Jefferies Financial Group increased their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Wells Fargo & Company increased their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,167 shares of company stock valued at $29,762,606. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.3 %

GOOGL stock opened at $159.81 on Thursday. The company’s 50 day simple moving average is $165.62 and its 200-day simple moving average is $165.13. The firm has a market capitalization of $1.97 trillion, a PE ratio of 24.51, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced 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 for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.