Certuity LLC Sells 2,137 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Certuity LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 60,694 shares of the information services provider’s stock after selling 2,137 shares during the quarter. Alphabet makes up about 0.9% of Certuity LLC’s holdings, making the stock its 26th largest holding. Certuity LLC’s holdings in Alphabet were worth $11,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% in the second 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 last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $163.59 on Friday. The company has a market capitalization of $2.02 trillion, a P/E ratio of 25.09, 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 business’s 50 day moving average is $164.72 and its two-hundred day moving average is $165.55. 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 announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for 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 quarter last year, the firm posted $1.44 EPS. Analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was 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 directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $29,762,606 in the last 90 days. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Evercore ISI cut their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Citigroup boosted their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price target on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, August 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.08.

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.