Atria Wealth Solutions Inc. Sells 24,488 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Atria Wealth Solutions Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,875 shares of the information services provider’s stock after selling 24,488 shares during the quarter. Alphabet accounts for about 0.5% of Atria Wealth Solutions Inc.’s investment portfolio, making the stock its 28th largest position. Atria Wealth Solutions Inc.’s holdings in Alphabet were worth $43,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its position in shares of Alphabet by 242.9% during the 1st 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 period. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC grew 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 worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated 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 sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,219 shares of company stock valued at $49,674,273. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.2%

Shares of GOOGL stock opened at $201.00 on Tuesday. The firm has a 50 day moving average price of $181.53 and a two-hundred day moving average price of $172.81. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company 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.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GOOGL shares. Cantor Fitzgerald upped their price target on Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Citizens Jmp raised Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research note on Friday, June 27th. Roth Capital upped their price target on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Royal Bank Of Canada upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, JMP Securities upped their price target on Alphabet from $220.00 to $225.00 and gave the company a “market outperform” rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.53.

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.