Graham Capital Wealth Management LLC Has $742,000 Position in Alphabet Inc. $GOOGL

Graham Capital Wealth Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 60.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,210 shares of the information services provider’s stock after selling 6,377 shares during the period. Graham Capital Wealth Management LLC’s holdings in Alphabet were worth $742,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Mediolanum International Funds Ltd lifted its position in shares of Alphabet by 0.7% in the 2nd quarter. Mediolanum International Funds Ltd now owns 901,577 shares of the information services provider’s stock worth $160,959,000 after acquiring an additional 6,535 shares during the period. Brandywine Global Investment Management LLC increased its position in shares of Alphabet by 13.6% during the second quarter. Brandywine Global Investment Management LLC now owns 454,450 shares of the information services provider’s stock valued at $80,088,000 after purchasing an additional 54,352 shares during the period. White Pine Capital LLC raised its stake in shares of Alphabet by 0.6% in the second quarter. White Pine Capital LLC now owns 26,648 shares of the information services provider’s stock valued at $4,696,000 after purchasing an additional 146 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Alphabet by 383.1% in the second quarter. Hillsdale Investment Management Inc. now owns 142,004 shares of the information services provider’s stock valued at $25,025,000 after purchasing an additional 112,610 shares in the last quarter. Finally, Seeds Investor LLC lifted its position in Alphabet by 2.7% in the second quarter. Seeds Investor LLC now owns 6,313 shares of the information services provider’s stock worth $1,112,000 after purchasing an additional 163 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. HSBC boosted their price target on shares of Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup reissued a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. The Goldman Sachs Group lifted their price objective on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Rosenblatt Securities upped their price objective on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley raised their target price on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.06.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the completion of the sale, the chief accounting officer owned 11,740 shares of the company’s stock, valued at $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’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 transaction of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 193,628 shares of company stock worth $50,942,622 in the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.3%

Shares of GOOGL opened at $315.81 on Wednesday. The company has a market capitalization of $3.81 trillion, a P/E ratio of 31.15, a PEG ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The business’s 50 day simple moving average is $271.77 and its 200-day simple moving average is $221.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

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 firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Alphabet Company 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.