Alphabet Inc. $GOOGL Shares Sold by New Insight Wealth Advisors

Key Points

• New Insight Wealth Advisors reduced its holdings in Alphabet Inc. (GOOGL) by 7.5% during the second quarter, now owning 19,049 shares worth approximately $3.36 million.
• Institutional investors hold 40.03% of Alphabet's stock, with multiple hedge funds adjusting their stakes recently.
• Alphabet's stock price target estimates from various analysts have increased, with Piper Sandler raising it to $285.00 and Citizens JMP to $290.00, reflecting positive sentiment.

New Insight Wealth Advisors decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,049 shares of the information services provider's stock after selling 1,539 shares during the quarter. Alphabet makes up 1.4% of New Insight Wealth Advisors' portfolio, making the stock its 20th biggest position. New Insight Wealth Advisors' holdings in Alphabet were worth $3,357,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Missouri Trust & Investment Co boosted its stake in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock valued at $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC increased its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after acquiring an additional 59 shares during the period. Enzi Wealth increased its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Finally, Park Capital Management LLC WI increased its position in Alphabet by 1.1% in the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock valued at $1,058,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Piper Sandler boosted their price objective on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Rosenblatt Securities upped their price target on Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Moffett Nathanson boosted their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Barclays increased their price objective on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Finally, Citizens Jmp boosted their price target on Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.63.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,469 shares of company stock worth $46,586,752 over the last ninety days. Company insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $243.10 on Wednesday. The stock has a 50-day moving average price of $218.05 and a 200 day moving average price of $184.24. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The firm has a market cap of $2.94 trillion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.65 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

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.

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