Bartlett & CO. Wealth Management LLC Has $78.38 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Bartlett & CO. Wealth Management LLC decreased its holdings in Alphabet Inc. by 1.1%, now owning 444,740 shares valued at $78.38 million.
• Several institutional investors have recently increased their stakes in Alphabet, with 40.03% of the company's stock owned by institutions.
• Alphabet announced a quarterly dividend of $0.21 per share, with a current annualized yield of 0.3% and a payout ratio of 8.95%.

Bartlett & CO. Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,740 shares of the information services provider's stock after selling 4,863 shares during the quarter. Alphabet comprises 1.1% of Bartlett & CO. Wealth Management LLC's holdings, making the stock its 25th largest holding. Bartlett & CO. Wealth Management LLC's holdings in Alphabet were worth $78,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mystic Asset Management Inc. increased its holdings in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co increased its holdings in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Cypress Capital LLC increased its holdings in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC increased its holdings in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Saturday, September 27th. Loop Capital reiterated a "hold" rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Morgan Stanley set a $270.00 price target on Alphabet and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Wedbush upped their price target on Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Finally, Truist Financial upped their price target on Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $242.98.

Alphabet Stock Down 1.9%

Shares of NASDAQ:GOOGL opened at $245.76 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average price of $223.41 and a two-hundred day moving average price of $187.13. The company has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared 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 dividend payout ratio is currently 8.95%.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last 90 days. Insiders own 11.55% of the company's stock.

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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