Grassi Investment Management Has $5.91 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Grassi Investment Management has reduced its holdings in Alphabet Inc. by 39% during the second quarter, now owning shares valued at $5.91 million.
• Several institutional investors have increased their stakes in Alphabet, with Guardian Wealth Management raising its position by 242.9% in the first quarter.
• Alphabet recently declared a quarterly dividend of $0.21, resulting in an annualized yield of 0.4% and a payout ratio of approximately 8.95%.

Grassi Investment Management cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 39.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,549 shares of the information services provider's stock after selling 21,475 shares during the period. Grassi Investment Management's holdings in Alphabet were worth $5,912,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter worth about $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the first quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 953 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 in the last quarter. Insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOGL. Citizens Jmp upped their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Loop Capital reaffirmed a "hold" rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Finally, Piper Sandler upped their price objective on shares of Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $245.88.

Alphabet Stock Down 2.1%

Alphabet stock opened at $236.57 on Friday. 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 52-week low of $140.53 and a 52-week high of $256.00. The firm has a 50 day moving average price of $226.31 and a two-hundred day moving average price of $188.66. The firm has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during 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%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

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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