Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,934 shares of the information services provider’s stock after selling 440 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Alphabet were worth $1,081,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors boosted its position in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the period. PineStone Asset Management Inc. increased its holdings in shares of Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Alphabet by 91.0% during the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock worth $1,450,599,000 after buying an additional 3,777,527 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,867 shares of company stock valued at $29,878,106. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. BMO Capital Markets reissued an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. TD Securities increased their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Argus upped their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Trading Down 0.5 %

Shares of GOOGL opened at $161.49 on Thursday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $163.80 and a 200-day simple moving average of $166.17. The stock has a market cap of $1.99 trillion, a PE ratio of 24.77, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) 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 firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

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.