Montz Harcus Wealth Management LLC Lowers Holdings in Alphabet Inc. $GOOGL

Montz Harcus Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,484 shares of the information services provider’s stock after selling 84 shares during the period. Alphabet accounts for approximately 0.5% of Montz Harcus Wealth Management LLC’s holdings, making the stock its 25th biggest position. Montz Harcus Wealth Management LLC’s holdings in Alphabet were worth $966,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the 1st quarter worth approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last three months. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. KeyCorp raised their target price on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Royal Bank Of Canada increased their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Loop Capital reiterated a “hold” rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.88.

Alphabet Stock Down 2.1%

Shares of NASDAQ:GOOGL opened at $236.57 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. 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’s 50-day moving average price is $226.31 and its two-hundred day moving average price is $188.49. The firm has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were 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 was Monday, September 8th. Alphabet’s 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.