McClarren Financial Advisors Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

McClarren Financial Advisors Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 32.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,408 shares of the information services provider’s stock after selling 1,146 shares during the period. McClarren Financial Advisors Inc.’s holdings in Alphabet were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Nia Impact Advisors LLC lifted its holdings in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after buying an additional 59 shares in the last quarter. Hanlon Investment Management Inc. lifted its holdings in Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock valued at $673,000 after buying an additional 60 shares in the last quarter. Enzi Wealth lifted its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after buying an additional 67 shares in the last quarter. Finally, Aspire Capital Advisors LLC lifted its holdings in Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $201.00 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.43 trillion, a PE ratio of 21.41, a PEG ratio of 1.36 and a beta of 1.01. The stock’s fifty day moving average price is $181.53 and its two-hundred day moving average price is $172.81.

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

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. DA Davidson boosted their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Westpark Capital lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Susquehanna lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.53.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,219 shares of company stock worth $49,674,273 in the last quarter. 11.55% of the stock is owned by company 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.