Total Clarity Wealth Management Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,582 shares of the information services provider's stock after selling 6,297 shares during the period. Alphabet comprises about 1.2% of Total Clarity Wealth Management Inc.'s holdings, making the stock its 22nd biggest position. Total Clarity Wealth Management Inc.'s holdings in Alphabet were worth $4,517,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. acquired a new position in shares of Alphabet in the second quarter worth $31,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Alphabet in the third quarter worth approximately $53,000. Corsicana & Co. purchased a new stake in shares of Alphabet during the 3rd quarter valued at $54,000. Vermillion & White Wealth Management Group LLC raised its position in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider's stock worth $57,000 after buying an additional 89 shares during the period. Finally, S&T Bank PA boosted its holdings in Alphabet by 40.2% in the second quarter. S&T Bank PA now owns 345 shares of the information services provider's stock valued at $61,000 after acquiring an additional 99 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O'toole sold 955 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer owned 9,918 shares in the company, valued at approximately $2,955,564. This represents a 8.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 47,574 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares of the company's stock, valued at $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,112,493 shares of company stock worth $118,605,094. 11.55% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Wells Fargo & Company set a $354.00 target price on shares of Alphabet and gave the stock an "equal weight" rating in a research report on Thursday, February 5th. Needham & Company LLC boosted their price objective on Alphabet from $330.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, January 21st. Arete Research increased their price target on Alphabet from $380.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alphabet from $370.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.18.
Check Out Our Latest Analysis on Alphabet
Alphabet Price Performance
NASDAQ:GOOGL opened at $307.04 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The company has a fifty day moving average price of $319.65 and a 200 day moving average price of $288.33. Alphabet Inc. has a one year low of $140.53 and a one year high of $349.00. The stock has a market cap of $3.71 trillion, a P/E ratio of 28.40, a PEG ratio of 1.79 and a beta of 1.10.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is currently 7.77%.
Alphabet Profile
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Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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