Alphabet Inc. $GOOGL Shares Sold by Elm3 Financial Group LLC

Elm3 Financial Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,758 shares of the information services provider’s stock after selling 354 shares during the period. Alphabet makes up approximately 1.3% of Elm3 Financial Group LLC’s holdings, making the stock its 20th largest holding. Elm3 Financial Group LLC’s holdings in Alphabet were worth $1,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% during 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. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC raised its holdings in shares of 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 during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,838 shares of company stock worth $53,070,333. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Melius Research raised their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Truist Financial lifted their price objective on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Citigroup lifted their price objective on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.26.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $245.45 on Wednesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve 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 company has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The business has a 50 day simple moving average of $228.31 and a 200-day simple moving average of $189.86.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share 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 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 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.