Total Clarity Wealth Management Inc. Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Total Clarity Wealth Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,517 shares of the information services provider’s stock after selling 3,952 shares during the quarter. Alphabet makes up approximately 1.4% of Total Clarity Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Total Clarity Wealth Management Inc.’s holdings in Alphabet were worth $4,101,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nebula Research & Development LLC bought a new stake in shares of Alphabet during the fourth quarter worth $787,000. New Hampshire Trust lifted its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Alphabet by 11.5% in the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after acquiring an additional 200,891 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Bank of America lifted their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI decreased their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $165.85 on Tuesday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The business has a 50-day moving average of $162.52 and a 200-day moving average of $166.84. 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 company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now owns 43,999 shares in the company, valued at $7,280,514.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John Kent Walker sold 16,802 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly 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 90 days, insiders have sold 193,725 shares of company stock worth $31,933,031. 11.55% of the stock is currently owned by corporate insiders.

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.