Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,095 shares of the information services provider’s stock after selling 1,065 shares during the quarter. Alphabet comprises approximately 1.7% of ClariVest Asset Management LLC’s portfolio, making the stock its 6th biggest position. ClariVest Asset Management LLC’s holdings in Alphabet were worth $16,411,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. MorganRosel Wealth Management LLC boosted its stake in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the last quarter. Hengehold Capital Management LLC boosted its stake in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC boosted its stake in Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after buying an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its stake in Alphabet by 1.0% in the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL opened at $162.29 on Wednesday. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.13 and a beta of 1.04. The stock has a 50 day moving average of $163.80 and a 200-day moving average of $166.17. 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 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during 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 earned $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold 180,867 shares of company stock worth $29,878,106 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GOOGL shares. TD Securities raised their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Citigroup raised their price objective on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Company 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.