Verus Wealth Management LLC Sells 255 Shares of Alphabet Inc. $GOOGL

Verus Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,347 shares of the information services provider’s stock after selling 255 shares during the quarter. Verus Wealth Management LLC’s holdings in Alphabet were worth $414,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the first quarter worth approximately $28,000. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GOOGL shares. Piper Sandler raised their price objective on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Wolfe Research raised their target price on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Sanford C. Bernstein raised 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Roth Capital lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.40.

Alphabet Stock Performance

NASDAQ GOOGL opened at $244.15 on Tuesday. The firm’s fifty day moving average price is $227.30 and its two-hundred day moving average price is $189.47. The stock has a market cap of $2.95 trillion, a PE ratio of 26.00, a PEG ratio of 1.60 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 debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. 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.