Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Trimmed by Global Wealth Strategies & Associates

Global Wealth Strategies & Associates lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.2% during the second quarter, Holdings Channel reports. The fund owned 1,529 shares of the information services provider’s stock after selling 174 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Alphabet were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. RWQ Financial Management Services Inc. raised its stake in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management raised its stake in Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after buying an additional 76,410 shares during the period. Robbins Farley grew its stake in Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after acquiring an additional 118 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $787,000. Finally, CKW Financial Group grew its position in shares of Alphabet by 5.8% in the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock valued at $2,150,000 after purchasing an additional 760 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 1.8 %

GOOGL opened at $161.17 on Wednesday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. 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’s 50-day moving average is $177.75 and its 200 day moving average is $161.77. The firm has a market capitalization of $1.98 trillion, a P/E ratio of 24.28, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the business earned $1.44 EPS. Research analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the transaction, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,808 shares of company stock worth $17,732,125. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Barclays lifted their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Tuesday. Piper Sandler boosted their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Monday, July 22nd. Finally, Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

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.