Alphabet Inc. $GOOGL Position Lessened by LifeGoal Wealth Advisors

LifeGoal Wealth Advisors reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,578 shares of the information services provider’s stock after selling 79 shares during the quarter. LifeGoal Wealth Advisors’ holdings in Alphabet were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Rhumbline Advisers raised its position in shares of Alphabet by 0.8% during the first quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock worth $1,742,444,000 after purchasing an additional 86,670 shares during the period. GGM Financials LLC raised its holdings in Alphabet by 2.8% during the 1st quarter. GGM Financials LLC now owns 2,720 shares of the information services provider’s stock worth $421,000 after buying an additional 73 shares during the period. Finally, Gateway Investment Advisers LLC lifted its position in shares of Alphabet by 6.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 609,065 shares of the information services provider’s stock valued at $94,186,000 after acquiring an additional 38,954 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GOOGL. Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup increased their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Citizens Jmp boosted their price target on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Finally, Piper Sandler raised their price objective on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Four equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $240.76.

Alphabet Stock Down 0.1%

NASDAQ GOOGL opened at $245.35 on Monday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a market cap of $2.97 trillion, a PE ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. The firm has a 50-day simple moving average of $221.25 and a 200 day simple moving average of $186.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend 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 Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.55% of the company’s stock.

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.