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

Key Points

• One Wealth Advisors LLC reduced its stake in Alphabet Inc. by 19.9% during the second quarter, now holding 16,960 shares valued at approximately $2.99 million.
• Insider sales were notable, with Director Kavitark Ram Shriram selling 18,566 shares for around $3.45 million, and CEO Sundar Pichai selling 32,500 shares for about $5.99 million.
• Alphabet reported better-than-expected earnings of $2.31 per share for the last quarter, surpassing estimates and indicating a strong performance with revenues reaching $96.43 billion.

One Wealth Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,960 shares of the information services provider's stock after selling 4,221 shares during the period. One Wealth Advisors LLC's holdings in Alphabet were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $28,000. 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 worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.55% of the company's stock.

Alphabet Price Performance

GOOGL opened at $245.35 on Monday. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a 50 day moving average of $221.25 and a two-hundred day moving average of $186.12. The company has a market cap of $2.97 trillion, a P/E ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were 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 was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JMP Securities boosted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a report on Friday, September 19th. Oppenheimer restated an "outperform" rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.76.

Alphabet Company 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.

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