Alphabet Inc. $GOOGL Position Decreased by CM Wealth Advisors LLC

CM Wealth Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,625 shares of the information services provider’s stock after selling 1,993 shares during the period. Alphabet makes up about 0.6% of CM Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest holding. CM Wealth Advisors LLC’s holdings in Alphabet were worth $2,049,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC lifted its position in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after buying an additional 532 shares in the last quarter. Private Wealth Management Group LLC lifted its position in Alphabet by 20.6% in the 1st quarter. Private Wealth Management Group LLC now owns 2,515 shares of the information services provider’s stock worth $389,000 after buying an additional 429 shares in the last quarter. Finally, Parcion Private Wealth LLC boosted its stake in shares of Alphabet by 2.7% during the 1st quarter. Parcion Private Wealth LLC now owns 65,989 shares of the information services provider’s stock valued at $10,205,000 after buying an additional 1,705 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 192,674 shares of company stock worth $48,454,423 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Trading Down 1.1%

NASDAQ:GOOGL opened at $289.45 on Friday. The company’s 50 day moving average is $261.21 and its 200-day moving average is $212.12. 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 12 month low of $140.53 and a 12 month high of $306.42. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given 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 of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. CICC Research upped their target price on Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $320.00 price target (up from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. DA Davidson boosted their price target on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Evercore ISI raised their price objective on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

About Alphabet

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.