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

SOA Wealth Advisors LLC. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,925 shares of the information services provider's stock after selling 6,045 shares during the quarter. Alphabet comprises about 1.1% of SOA Wealth Advisors LLC.'s holdings, making the stock its 23rd largest position. SOA Wealth Advisors LLC.'s holdings in Alphabet were worth $9,679,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its holdings in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their position. 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 company's 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 completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last 90 days. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Morgan Stanley set a $270.00 price target on Alphabet and gave the company an "overweight" rating in a report on Thursday, October 2nd. Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Sanford C. Bernstein boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $242.98.

Alphabet Stock Down 1.9%

NASDAQ GOOGL opened at $245.76 on Wednesday. The stock has a market cap of $2.97 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The business has a 50 day moving average price of $223.41 and a two-hundred day moving average price of $187.13. 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 released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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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