Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,636 shares of the information services provider’s stock after selling 589 shares during the quarter. Alphabet makes up approximately 1.5% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 6th largest position. Institute for Wealth Management LLC.’s holdings in Alphabet were worth $11,045,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC lifted its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its stake in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its stake in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after acquiring an additional 64 shares in the last quarter. Sunflower Bank N.A. lifted its stake in Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after acquiring an additional 65 shares in the last quarter. Finally, M. Kraus & Co lifted its stake in Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after acquiring an additional 66 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.0 %

NASDAQ:GOOGL opened at $163.38 on Monday. The stock’s 50 day moving average price is $173.44 and its 200 day moving average price is $163.90. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a market capitalization of $2.01 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

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, beating 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 company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the business posted $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research report on Tuesday, July 30th. Piper Sandler increased their price target on Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.74.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,883 shares of company stock worth $26,705,320. 11.55% of the stock is currently owned by insiders.

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.