Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Acima Private Wealth LLC

Acima Private Wealth LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 42.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,240 shares of the information services provider’s stock after selling 1,640 shares during the quarter. Acima Private Wealth LLC’s holdings in Alphabet were worth $346,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC boosted its position in shares of 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 acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,219 shares of company stock valued at $49,674,273 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOGL. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Truist Financial reissued a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. BNP Paribas Exane reissued a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Finally, Needham & Company LLC raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.53.

Alphabet Price Performance

Alphabet stock opened at $201.00 on Tuesday. The firm has a market capitalization of $2.43 trillion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a 50-day moving average price of $181.53 and a 200-day moving average price of $172.81. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

About Alphabet

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.