Corient Private Wealth LLC Sells 59,392 Shares of Alphabet Inc. $GOOGL

Corient Private Wealth LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,118,944 shares of the information services provider’s stock after selling 59,392 shares during the quarter. Alphabet makes up 1.3% of Corient Private Wealth LLC’s investment portfolio, making the stock its 13th largest position. Corient Private Wealth LLC’s holdings in Alphabet were worth $902,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beddow Capital Management Inc. raised its stake in shares of Alphabet by 2.0% during the 2nd quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider’s stock valued at $445,000 after purchasing an additional 50 shares during the period. Gimbal Financial grew its holdings in Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co increased its position in shares of Alphabet by 0.3% during 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 buying an additional 55 shares during the period. Silver Coast Investments LLC lifted its holdings 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 in the last quarter. Finally, North Berkeley Wealth Management LLC boosted its position in shares of Alphabet by 1.3% in the second quarter. North Berkeley Wealth Management LLC now owns 4,200 shares of the information services provider’s stock valued at $740,000 after acquiring an additional 55 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.5%

Shares of GOOGL stock opened at $306.57 on Wednesday. The business has a 50-day moving average price of $285.51 and a two-hundred day moving average price of $231.90. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market cap of $3.70 trillion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’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 directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 190,250 shares of company stock valued at $52,387,348. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. New Street Research boosted their price objective on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. The Goldman Sachs Group boosted their price target on shares of Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. China Renaissance increased their price objective on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. HSBC lifted their price objective on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Finally, Bank of America upped their target price on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $315.18.

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.