Alphabet Inc. $GOOGL Shares Sold by Blodgett Wealth Advisors LLC

Key Points

• Blodgett Wealth Advisors LLC reduced its holdings in Alphabet Inc. by 18.8%, selling 8,131 shares during the second quarter, which now accounts for 4.8% of their portfolio.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding estimates, with revenues reaching $96.43 billion, surpassing expectations.
• The company's recent quarterly dividend was $0.21 per share, reflecting an annualized yield of 0.3% and a low payout ratio of 8.95%.

Blodgett Wealth Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,091 shares of the information services provider's stock after selling 8,131 shares during the quarter. Alphabet comprises 4.8% of Blodgett Wealth Advisors LLC's investment portfolio, making the stock its 6th largest position. Blodgett Wealth Advisors LLC's holdings in Alphabet were worth $6,184,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Enzi Wealth boosted its position in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the last quarter. Wolff Financial Management LLC lifted its position in Alphabet by 2.6% in the 2nd quarter. Wolff Financial Management LLC now owns 2,632 shares of the information services provider's stock worth $464,000 after buying an additional 66 shares during the last quarter. Whipplewood Advisors LLC lifted its position in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares during the last quarter. Aspire Capital Advisors LLC lifted its position in Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after buying an additional 67 shares during the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. lifted its position in Alphabet by 2.1% in the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after buying an additional 67 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock traded up $2.50 during trading hours on Thursday, reaching $252.03. The company had a trading volume of 31,180,241 shares, compared to its average volume of 37,743,336. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.68 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $253.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average of $207.87 and a 200-day moving average of $179.73.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Citigroup lifted their price target on Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. KeyCorp lifted their price target on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Wells Fargo & Company boosted their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $224.51.

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.