Capital A Wealth Management LLC Lowers Stock Holdings in Alphabet Inc. $GOOGL

Capital A Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 74.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 672 shares of the information services provider’s stock after selling 1,995 shares during the period. Alphabet comprises approximately 1.2% of Capital A Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding. Capital A Wealth Management LLC’s holdings in Alphabet were worth $118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after buying an additional 6,733,278 shares during the period. State Street Corp raised its holdings in shares of Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares during the period. Norges Bank bought a new position in shares of Alphabet during the second quarter valued at approximately $21,944,208,000. Finally, Invesco Ltd. increased its holdings in Alphabet by 1.2% during the second quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock valued at $7,780,875,000 after buying an additional 503,306 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOGL. Stifel Nicolaus set a $333.00 target price on Alphabet in a research report on Thursday, October 30th. Guggenheim restated a “buy” rating and set a $375.00 price objective (up from $330.00) on shares of Alphabet in a research note on Monday, December 1st. Bank of America raised their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Barclays reiterated 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. Finally, Wells Fargo & Company raised their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Four research 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 stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $315.18.

Alphabet Stock Down 0.5%

NASDAQ:GOOGL opened at $306.57 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The company has a market cap of $3.70 trillion, a PE ratio of 30.23, a P/E/G ratio of 1.78 and a beta of 1.07. The company’s 50 day moving average is $285.51 and its two-hundred day moving average is $231.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $317.66, for a total value of $32,401.32. Following the sale, the director owned 18,104 shares in the company, valued at $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total transaction of $302,418.00. Following the transaction, the chief accounting officer directly owned 11,740 shares of the company’s stock, valued at $3,721,580. This represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 190,250 shares of company stock worth $52,387,348 in the last 90 days. 11.55% of the stock is owned by company insiders.

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.