Greenwich Wealth Management LLC Sells 257 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Greenwich Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 7,167 shares of the information services provider’s stock after selling 257 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Alphabet were worth $1,189,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fullcircle Wealth LLC grew its holdings in Alphabet by 0.6% in the third quarter. Fullcircle Wealth LLC now owns 12,307 shares of the information services provider’s stock worth $2,052,000 after purchasing an additional 69 shares during the period. Ceredex Value Advisors LLC boosted its position in shares of Alphabet by 44.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 235,214 shares of the information services provider’s stock worth $39,010,000 after purchasing an additional 72,536 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Alphabet by 1.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 63,801 shares of the information services provider’s stock worth $10,386,000 after buying an additional 734 shares during the last quarter. Farther Finance Advisors LLC increased its position in Alphabet by 9.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 117,365 shares of the information services provider’s stock valued at $19,463,000 after buying an additional 10,044 shares in the last quarter. Finally, Dash Acquisitions Inc. raised its stake in Alphabet by 0.7% during the third quarter. Dash Acquisitions Inc. now owns 9,656 shares of the information services provider’s stock valued at $1,596,000 after buying an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Roth Mkm raised their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Finally, UBS Group upped their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock worth $34,471,141. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $175.58 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The stock’s 50-day simple moving average is $164.82 and its 200-day simple moving average is $170.04. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.29 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 10.61%.

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.