Greenwich Wealth Management LLC Sells 297 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Greenwich Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,424 shares of the information services provider’s stock after selling 297 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Alphabet were worth $1,352,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth $36,000. Finally, Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $163.95 on Monday. 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 company has a market cap of $2.03 trillion, a P/E ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a 50-day moving average price of $162.83 and a 200 day moving average price of $166.68.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the company posted $1.44 EPS. Research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 177,605 shares of company stock worth $29,277,931 in the last quarter. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Royal Bank of Canada lifted their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Loop Capital reiterated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

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.