Sowell Financial Services LLC Buys 2,686 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sowell Financial Services LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,992 shares of the information services provider’s stock after buying an additional 2,686 shares during the quarter. Alphabet comprises 0.8% of Sowell Financial Services LLC’s portfolio, making the stock its 17th largest position. Sowell Financial Services LLC’s holdings in Alphabet were worth $17,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc raised its position in shares of 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 acquiring an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter worth $30,000. Kings Path Partners LLC bought a new position in Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,092 shares of company stock valued at $35,644,136. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $163.24 on Monday. The company has a 50 day simple moving average of $161.37 and a two-hundred day simple moving average of $167.86. 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 cap of $2.02 trillion, a P/E ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm posted $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOOGL shares. Wedbush reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Evercore ISI lowered their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, August 30th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Check Out Our Latest Stock Analysis on GOOGL

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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