Crumly & Associates Inc. Reduces Stock Position in Alphabet Inc. $GOOGL

Crumly & Associates Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% during the 2nd quarter, Holdings Channel reports. The firm owned 5,603 shares of the information services provider’s stock after selling 306 shares during the quarter. Crumly & Associates Inc.’s holdings in Alphabet were worth $987,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at $492,281,408.64. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 over the last three months. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush boosted their price objective on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Rosenblatt Securities boosted their price objective on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Piper Sandler boosted their price objective on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Truist Financial reissued a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.44.

Alphabet Stock Performance

NASDAQ GOOGL opened at $240.80 on Friday. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $242.25. 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 stock has a 50-day moving average of $201.89 and a 200 day moving average of $177.48.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Alphabet Company 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.