Enclave Advisors LLC Trims Holdings in Alphabet Inc. $GOOGL

Enclave Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 43.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,298 shares of the information services provider’s stock after selling 10,294 shares during the period. Enclave Advisors LLC’s holdings in Alphabet were worth $2,344,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $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 first quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in 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 during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GOOGL shares. Sanford C. Bernstein lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Melius Research raised their price target on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. BMO Capital Markets boosted their price objective on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. JMP Securities increased their target price on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research note on Friday, September 19th. Finally, Morgan Stanley set a $270.00 target price on Alphabet and gave the company an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $240.76.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 over the last quarter. 11.64% of the stock is owned by insiders.

Alphabet Stock Down 0.1%

Shares of NASDAQ:GOOGL opened at $245.35 on Friday. The firm’s 50 day moving average price is $221.25 and its 200 day moving average price is $185.96. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.