CMH Wealth Management LLC Reduces Holdings in Alphabet Inc. $GOOGL

Key Points

• CMH Wealth Management LLC reduced its holdings in Alphabet Inc. by 0.9% during the second quarter, bringing its total shares to 115,785, valued at approximately $20.4 million.
• Alphabet's latest earnings report showed $2.31 earnings per share, exceeding analyst estimates, with a total revenue of $96.43 billion for the quarter.
• Alphabet declared a $0.21 quarterly dividend, resulting in an annualized yield of 0.3%, with a payout ratio of 8.95%.

CMH Wealth Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,785 shares of the information services provider's stock after selling 1,060 shares during the quarter. Alphabet accounts for approximately 4.7% of CMH Wealth Management LLC's investment portfolio, making the stock its 3rd biggest holding. CMH Wealth Management LLC's holdings in Alphabet were worth $20,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Lakeshore Capital Group Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at $1,233,000. Financial Advisory Corp acquired a new position in shares of Alphabet in the fourth quarter valued at $428,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at $545,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 0.9%

Shares of NASDAQ GOOGL opened at $252.53 on Tuesday. The company has a 50 day simple moving average of $210.78 and a 200 day simple moving average of $180.96. The firm has a market cap of $3.05 trillion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. 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.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were 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 owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last 90 days. Corporate insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOGL shares. Wells Fargo & Company upped their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. KeyCorp upped their price target on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Sanford C. Bernstein upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Barclays upped their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $231.31.

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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