Alphabet Inc. $GOOGL Shares Sold by Fourth Dimension Wealth LLC

Fourth Dimension Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,555 shares of the information services provider’s stock after selling 454 shares during the quarter. Fourth Dimension Wealth LLC’s holdings in Alphabet were worth $803,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Arrowroot Family Office LLC acquired a new position in Alphabet during the second quarter worth $689,000. GPS Wealth Strategies Group LLC grew its stake in shares of Alphabet by 0.9% in the second quarter. GPS Wealth Strategies Group LLC now owns 24,297 shares of the information services provider’s stock valued at $4,282,000 after buying an additional 211 shares in the last quarter. Blue Barn Wealth LLC raised its holdings in shares of Alphabet by 11.6% in the 2nd quarter. Blue Barn Wealth LLC now owns 2,769 shares of the information services provider’s stock valued at $488,000 after buying an additional 287 shares during the period. Main Street Research LLC lifted its stake in Alphabet by 3.5% during the 2nd quarter. Main Street Research LLC now owns 297,345 shares of the information services provider’s stock worth $52,401,000 after acquiring an additional 10,180 shares in the last quarter. Finally, Crestwood Advisors Group LLC boosted its holdings in Alphabet by 0.3% during the 2nd quarter. Crestwood Advisors Group LLC now owns 801,881 shares of the information services provider’s stock valued at $141,317,000 after acquiring an additional 2,746 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GOOGL shares. Oppenheimer upped their price target on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Barclays reaffirmed an “overweight” rating and issued a $315.00 target price (up from $250.00) on shares of Alphabet in a report on Thursday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research note on Wednesday, October 22nd. CICC Research increased their target price on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, The Goldman Sachs Group raised their price target on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.8%

Shares of GOOGL opened at $276.41 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $292.01. The stock has a market cap of $3.34 trillion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm has a 50 day simple moving average of $257.24 and a 200-day simple moving average of $209.28.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

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.