Beta Wealth Group Inc. Sells 312 Shares of Alphabet Inc. $GOOGL

Beta Wealth Group Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,750 shares of the information services provider’s stock after selling 312 shares during the quarter. Beta Wealth Group Inc.’s holdings in Alphabet were worth $308,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Gimbal Financial lifted its holdings in Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after purchasing an additional 53 shares during the last quarter. Missouri Trust & Investment Co raised its position in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the period. Silver Coast Investments LLC lifted its stake in shares of Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares during the last quarter. Finally, Bfsg LLC boosted its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $320.02 on Friday. The stock has a market cap of $3.86 trillion, a PE ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The stock’s 50 day simple moving average is $269.25 and its 200-day simple moving average is $218.76.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 225,072 shares of company stock worth $58,074,027. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. BNP Paribas Exane began coverage on shares of Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Evercore ISI increased their target price on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Loop Capital raised Alphabet from a “hold” rating to a “buy” rating and raised their target price for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Finally, Susquehanna upped their price target on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

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.