Atria Wealth Solutions Inc. Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Alphabet Inc. by 5.4% in Q1, holding a total of 237,736 shares valued at $37.1 million after selling 13,660 shares.
• Alphabet reported strong Q2 earnings with $2.31 EPS, exceeding expectations, and significant revenue growth of 13.8% year-over-year, totaling $96.43 billion.
• Alphabet recently announced a quarterly dividend of $0.21 per share, reflecting a dividend yield of 0.4% and a payout ratio of 8.95%.

Atria Wealth Solutions Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,736 shares of the information services provider's stock after selling 13,660 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Alphabet were worth $37,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares in the last quarter. Wellspring Financial Advisors LLC grew its stake in Alphabet by 3.7% during the fourth quarter. Wellspring Financial Advisors LLC now owns 12,188 shares of the information services provider's stock worth $2,322,000 after buying an additional 435 shares during the period. Concentrum Wealth Management increased its position in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after acquiring an additional 57 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Alphabet by 5.0% in the 4th quarter. Invesco Ltd. now owns 19,939,547 shares of the information services provider's stock valued at $3,797,287,000 after acquiring an additional 944,858 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG opened at $195.75 on Tuesday. The stock has a market capitalization of $2.37 trillion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The business's fifty day moving average price is $179.89 and its 200 day moving average price is $174.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. The company's revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock valued at $43,525,794 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOG. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reiterated an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, Citigroup restated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Alphabet 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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