SYSTM Wealth Solutions LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

SYSTM Wealth Solutions LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 48.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,388 shares of the information services provider’s stock after selling 47,610 shares during the quarter. Alphabet accounts for 2.0% of SYSTM Wealth Solutions LLC’s portfolio, making the stock its 2nd largest position. SYSTM Wealth Solutions LLC’s holdings in Alphabet were worth $9,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC increased its holdings in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC grew its position in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc increased its stake 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 in the last quarter. Joseph P. Lucia & Associates LLC raised its position in shares of Alphabet by 1.0% during 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 purchasing an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. lifted 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 valued at $1,149,000 after buying an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $166.99 on Wednesday. The business’s fifty day moving average price is $162.22 and its 200 day moving average price is $167.02. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. 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 issued its quarterly 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. 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 prior year, the company earned $1.44 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued 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 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,802 shares of the stock in a transaction 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 sale, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction dated 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 approximately $7,280,514.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders sold a total of 193,725 shares of company stock worth $31,933,031 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Tigress Financial boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Monday. Wedbush restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Bank of America lifted their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. Eight 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

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.