Alphabet Inc. $GOOGL Stock Sold by Argonautica Private Wealth Management Inc.

Key Points

• Argonautica Private Wealth Management cut its Alphabet stake by 4% in the third quarter, selling 2,418 shares and ending with 57,929 shares valued at about $19.9 million. Alphabet remained its second-largest holding, representing 5.1% of its portfolio.
• Other institutional investors added to their positions, while institutional investors collectively owned 40.03% of Alphabet shares. Director Frances Arnold also sold 83 shares.
• Alphabet reported quarterly EPS of $2.12, below the $3.02 analyst consensus, and revenue of $127.58 billion, slightly short of estimates. Analysts’ consensus rating was “Buy,” with an average price target of $412.51.

Argonautica Private Wealth Management Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,929 shares of the information services provider's stock after selling 2,418 shares during the quarter. Alphabet accounts for about 5.1% of Argonautica Private Wealth Management Inc.'s investment portfolio, making the stock its 2nd largest holding. Argonautica Private Wealth Management Inc.'s holdings in Alphabet were worth $19,932,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Ullmann Wealth Partners Group LLC raised its position in shares of Alphabet by 3.1% during the third quarter. Ullmann Wealth Partners Group LLC now owns 12,360 shares of the information services provider's stock worth $4,253,000 after purchasing an additional 375 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of Alphabet by 10.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 847,402 shares of the information services provider's stock valued at $291,574,000 after purchasing an additional 77,455 shares in the last quarter. Fusion Family Wealth LLC lifted its holdings in shares of Alphabet by 1.6% during the 3rd quarter. Fusion Family Wealth LLC now owns 2,483 shares of the information services provider's stock valued at $854,000 after purchasing an additional 40 shares in the last quarter. Claro Advisors Inc. lifted its holdings in shares of Alphabet by 4.8% during the 3rd quarter. Claro Advisors Inc. now owns 34,906 shares of the information services provider's stock valued at $12,011,000 after purchasing an additional 1,601 shares in the last quarter. Finally, REAP Financial Group LLC lifted its holdings in shares of Alphabet by 6.2% during the 3rd quarter. REAP Financial Group LLC now owns 4,517 shares of the information services provider's stock valued at $1,554,000 after purchasing an additional 264 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alphabet

Investors following GOOGL have been watching these headlines:

• Positive Sentiment: Google made a faster, lower-cost Gemini model its everyday default and opened preorders for $395 Samsung-built AI glasses, scheduled to ship December 10. The product rollout highlights Alphabet’s effort to bring its AI services to more users and devices. Read More.
• Positive Sentiment: Nvidia CEO Jensen Huang’s abrupt departure could encourage cloud customers to diversify AI-chip suppliers. Alphabet’s TPUs may benefit from that shift; Google Cloud also uses AMD processors in TPU infrastructure. Read More.
• Neutral Sentiment: An investor commentary argues that Alphabet’s substantial cash generation and business strengths provide reasons not to overreact to AI-related capital spending, though the returns on that spending remain a key issue for investors. Read More.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 83 shares of the firm's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director owned 19,076 shares of the company's stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 247 shares of company stock valued at $79,238 over the last ninety days. 11.61% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $295.77 on Friday. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 15.44, a P/E/G ratio of 0.90 and a beta of 1.23. Alphabet Inc. has a twelve month low of $270.70 and a twelve month high of $408.61. The company has a 50 day moving average of $328.18 and a 200-day moving average of $338.01. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.02 by ($0.90). The business had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. As a group, equities research analysts forecast that Alphabet Inc. will post 19.81 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 4.59%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GOOGL shares. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. DA Davidson dropped their target price on shares of Alphabet from $350.00 to $300.00 and set a "neutral" rating on the stock in a report on Thursday, October 29th. Roth Capital reaffirmed a "buy" rating and issued a $440.00 price target (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Susquehanna reduced their price target on shares of Alphabet from $460.00 to $400.00 and set a "positive" rating for the company in a report on Thursday, October 29th. Finally, Phillip Securities raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $412.51.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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