Alta Wealth Advisors LLC Sells 107 Shares of Alphabet Inc. $GOOGL

Alta Wealth Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,238 shares of the information services provider’s stock after selling 107 shares during the quarter. Alphabet makes up about 1.4% of Alta Wealth Advisors LLC’s portfolio, making the stock its 17th biggest position. Alta Wealth Advisors LLC’s holdings in Alphabet were worth $3,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new stake in Alphabet during the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. boosted its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alphabet by 11.4% during 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. Amundi boosted its position in Alphabet by 11.8% during 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 in the last quarter. Finally, Evergreen Quality Fund GP Ltd. boosted its position in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after purchasing an additional 2,565,400 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock worth $59,062,683 over the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Sanford C. Bernstein raised their price target 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. Moffett Nathanson raised their target price on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. HSBC began coverage on shares of Alphabet in a research note on Tuesday, October 7th. They issued a “buy” rating and a $285.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.40.

Alphabet Trading Up 3.2%

Alphabet stock opened at $244.15 on Tuesday. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a market capitalization of $2.95 trillion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The stock has a 50-day moving average price of $227.30 and a 200 day moving average price of $189.47.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Alphabet Company 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.