Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,813 shares of the information services provider’s stock after selling 2,192 shares during the period. Alphabet comprises approximately 6.0% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Blodgett Wealth Advisors LLC’s holdings in Alphabet were worth $7,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Hampshire Trust increased its holdings in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new stake in Alphabet during the 1st quarter worth about $359,000. Schneider Downs Wealth Management Advisors LP grew its holdings in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the period. Trinity Financial Advisors LLC grew its holdings in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its holdings in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. DA Davidson assumed coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Trading Up 0.1 %

Shares of GOOGL stock opened at $171.29 on Friday. The company has a 50 day moving average of $162.43 and a 200-day moving average of $169.01. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $126.93 and a 12-month high of $191.75. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.91 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,244 shares of company stock worth $37,776,954. Corporate insiders own 11.55% of the company’s stock.

About Alphabet

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.