Alphabet Inc. $GOOGL Shares Sold by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 22.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,849 shares of the information services provider’s stock after selling 1,969 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Alphabet were worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at about $4,317,606,000. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock valued at $1,593,201,000 after purchasing an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Finally, Amundi increased its holdings in shares of Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.1%

Shares of NASDAQ GOOGL opened at $245.35 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a fifty day simple moving average of $221.25 and a 200-day simple moving average of $185.96.

Alphabet (NASDAQ:GOOGL) last announced 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. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Morgan Stanley set a $270.00 price objective on Alphabet and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Bank of America boosted their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. JMP Securities raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research report on Friday, September 19th. Finally, Canaccord Genuity Group lifted their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $240.76.

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.