Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,525 shares of the information services provider’s stock after selling 1,254 shares during the period. Alphabet comprises about 1.7% of Prestige Wealth Management Group LLC’s investment portfolio, making the stock its 14th biggest holding. Prestige Wealth Management Group LLC’s holdings in Alphabet were worth $7,746,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter worth about $36,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet during the second quarter worth about $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOGL opened at $163.59 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $2.02 trillion, a PE 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 company’s 50 day simple moving average is $164.72 and its 200 day simple moving average is $165.79.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company earned $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued 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 is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. 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. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday, September 16th. UBS Group increased their price target 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. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Wells Fargo & Company raised their target price 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, BMO Capital Markets reissued an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.08.

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.