Cowa LLC Has $376,000 Stock Position in Alphabet Inc. $GOOGL

Cowa LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 56.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,139 shares of the information services provider’s stock after selling 2,720 shares during the period. Cowa LLC’s holdings in Alphabet were worth $376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in Alphabet during the 2nd quarter valued at $31,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the first 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 last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Alphabet during the first quarter worth about $50,000. Finally, S&T Bank PA raised its holdings in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 193,628 shares of company stock valued at $50,942,622 in the last three months. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Citigroup reiterated a “buy” rating and set a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Rosenblatt Securities raised their target price on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. President Capital upped their price target on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Guggenheim reissued a “buy” rating and issued a $375.00 price target (up from $330.00) on shares of Alphabet in a research report on Monday. Finally, UBS Group reaffirmed a “neutral” rating and set a $306.00 price objective (up from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

Alphabet Trading Up 1.2%

Shares of Alphabet stock opened at $319.63 on Thursday. The firm has a market cap of $3.86 trillion, a PE ratio of 31.52, a P/E/G ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a fifty day moving average price of $273.22 and a 200-day moving average price of $222.36.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.