Consilium Wealth Advisory LLC Reduces Stock Position in Alphabet Inc. $GOOGL

Key Points

• Consilium Wealth Advisory LLC reduced its holdings in Alphabet Inc. by 8.2%, owning 18,567 shares after selling 1,668 shares during the second quarter.
• Alphabet recently reported $2.31 earnings per share, exceeding expectations, with a revenue of $96.43 billion for the quarter.
• Insider sales were notable, with CEO Sundar Pichai selling 32,500 shares and experiencing a 1.33% decrease in position, amidst a broader trend of insider sales totaling 276,738 shares in the last 90 days.

Consilium Wealth Advisory LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,567 shares of the information services provider's stock after selling 1,668 shares during the quarter. Alphabet accounts for 1.4% of Consilium Wealth Advisory LLC's holdings, making the stock its 19th biggest position. Consilium Wealth Advisory LLC's holdings in Alphabet were worth $3,272,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. grew its stake in Alphabet by 6.7% in the 1st 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 during the period. Harbour Trust & Investment Management Co raised its stake in 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 worth $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC lifted its stake in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC grew its position in Alphabet by 1.1% in the 1st 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. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 2.1%

Shares of GOOGL opened at $236.57 on Friday. The company has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.63 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The stock has a 50-day moving average price of $226.31 and a 200 day moving average price of $188.49.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOGL shares. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Needham & Company LLC raised their price target on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Melius Research lifted their target price on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. JMP Securities raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research report on Friday, September 19th. Finally, Westpark Capital raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $245.88.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the transaction, the chief executive officer directly owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is owned by company insiders.

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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