Alphabet Inc. $GOOGL Shares Sold by Altus Wealth Management LLC

Altus Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,583 shares of the information services provider’s stock after selling 151 shares during the quarter. Alphabet comprises 0.1% of Altus Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Altus Wealth Management LLC’s holdings in Alphabet were worth $279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter valued at about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the transaction, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $245.35 on Friday. The firm has a market cap of $2.97 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00. 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 business has a fifty day simple moving average of $221.25 and a 200-day simple moving average of $185.80. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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 company had revenue of $96.43 billion during 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%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. BMO Capital Markets increased their price target on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wedbush upped their price objective on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Finally, JMP Securities upped their price objective on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research note on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $240.76.

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.