Geometric Wealth Advisors Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Geometric Wealth Advisors reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 72.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,579 shares of the information services provider's stock after selling 4,220 shares during the quarter. Geometric Wealth Advisors' holdings in Alphabet were worth $244,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after buying an additional 104,859 shares during the period. Evolution Wealth Advisors LLC grew its stake in Alphabet by 8.8% during the first quarter. Evolution Wealth Advisors LLC now owns 15,579 shares of the information services provider's stock worth $2,409,000 after buying an additional 1,265 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of Alphabet during the first quarter worth $169,960,000. Citizens Financial Group Inc. RI lifted its position in shares of Alphabet by 3.4% during the first quarter. Citizens Financial Group Inc. RI now owns 519,374 shares of the information services provider's stock worth $80,316,000 after purchasing an additional 16,995 shares in the last quarter. Finally, Provident Investment Management Inc. lifted its position in shares of Alphabet by 0.9% during the first quarter. Provident Investment Management Inc. now owns 8,794 shares of the information services provider's stock worth $1,360,000 after purchasing an additional 80 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOGL shares. Needham & Company LLC boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Piper Sandler boosted their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Susquehanna lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Price Performance

Shares of GOOGL opened at $201.96 on Thursday. The company has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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's 50-day moving average is $182.95 and its 200-day moving average is $173.22.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred 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 transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,219 shares of company stock worth $49,674,273. Insiders own 11.64% 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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