Bulltick Wealth Management LLC Has $8.40 Million Stock Holdings in Alphabet Inc. $GOOGL

Bulltick Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 54,343 shares of the information services provider's stock after selling 11,155 shares during the period. Alphabet accounts for approximately 2.2% of Bulltick Wealth Management LLC's investment portfolio, making the stock its 12th largest holding. Bulltick Wealth Management LLC's holdings in Alphabet were worth $8,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Mystic Asset Management Inc. boosted its position 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 worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co increased its position in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth $3,119,000. Cypress Capital LLC lifted its holdings in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC grew its stake in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.5%

GOOGL opened at $203.90 on Monday. The stock's fifty day simple moving average is $184.25 and its 200 day simple moving average is $173.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market cap of $2.47 trillion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock valued at $49,796,547 in the last three months. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. UBS Group lifted their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Barclays raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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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