Capital Market Strategies LLC Sells 2,670 Shares of Alphabet Inc. $GOOGL

Capital Market Strategies LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 31.6% during the 2nd quarter, Holdings Channel reports. The fund owned 5,786 shares of the information services provider’s stock after selling 2,670 shares during the quarter. Capital Market Strategies LLC’s holdings in Alphabet were worth $1,020,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter valued at approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. DA Davidson lifted their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Needham & Company LLC lifted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Barclays lifted their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.44.

Alphabet Stock Performance

NASDAQ GOOGL opened at $240.80 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $201.89 and its two-hundred day moving average price is $177.48. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The firm has a market capitalization of $2.91 trillion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.