Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Trimmed by Avid Wealth Partners LLC

Avid Wealth Partners LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,415 shares of the information services provider’s stock after selling 189 shares during the quarter. Avid Wealth Partners LLC’s holdings in Alphabet were worth $258,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOGL. Tributary Capital Management LLC bought a new position in Alphabet during the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $38,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC boosted its stake in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.1 %

Shares of GOOGL stock opened at $165.62 on Monday. The company has a market cap of $2.05 trillion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $174.73 and its two-hundred day moving average is $163.30.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,565 shares of company stock valued at $26,823,893. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research report on Tuesday, July 30th. Evercore ISI lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Royal Bank of Canada boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Finally, Susquehanna lifted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.74.

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.