Bulltick Wealth Management LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bulltick Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,880 shares of the information services provider’s stock after selling 1,956 shares during the quarter. Bulltick Wealth Management LLC’s holdings in Alphabet were worth $1,445,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GOOG. Asset Management Group Inc. raised its stake in Alphabet by 10.4% during the 2nd quarter. Asset Management Group Inc. now owns 7,707 shares of the information services provider’s stock worth $1,414,000 after acquiring an additional 727 shares in the last quarter. Transatlantique Private Wealth LLC grew its holdings in shares of Alphabet by 210.6% during the second quarter. Transatlantique Private Wealth LLC now owns 52,516 shares of the information services provider’s stock worth $9,534,000 after purchasing an additional 35,608 shares during the last quarter. TPG Advisors LLC acquired a new stake in shares of Alphabet during the second quarter worth about $532,000. Summit Trail Advisors LLC lifted its holdings in shares of Alphabet by 4.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 197,257 shares of the information services provider’s stock valued at $36,181,000 after purchasing an additional 8,350 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Alphabet by 3.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,053,888 shares of the information services provider’s stock valued at $927,000,000 after purchasing an additional 189,067 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Trading Up 0.9 %

Shares of Alphabet stock opened at $164.64 on Friday. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company’s 50-day simple moving average is $166.26 and its 200-day simple moving average is $166.79. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were 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 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.