Heritage Financial Services LLC Trims Position in Alphabet Inc. $GOOGL

Heritage Financial Services LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,204 shares of the information services provider's stock after selling 1,055 shares during the period. Heritage Financial Services LLC's holdings in Alphabet were worth $565,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the period. Rhumbline Advisers boosted its holdings in Alphabet by 0.8% during the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock valued at $1,742,444,000 after acquiring an additional 86,670 shares during the period. Courier Capital LLC boosted its holdings in Alphabet by 20.8% during the 1st quarter. Courier Capital LLC now owns 21,220 shares of the information services provider's stock valued at $3,281,000 after acquiring an additional 3,653 shares during the period. Finally, Shorepath Capital Management LLC boosted its holdings in Alphabet by 16.8% during the 1st quarter. Shorepath Capital Management LLC now owns 29,824 shares of the information services provider's stock valued at $4,612,000 after acquiring an additional 4,290 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.9%

GOOGL opened at $245.76 on Wednesday. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The business's 50 day moving average is $223.41 and its two-hundred day moving average is $187.13. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

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 annualized dividend and a dividend 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, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. KeyCorp increased their price target on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Truist Financial increased their price target on Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Jefferies Financial Group increased their price target on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Needham & Company LLC increased their price target on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, Citigroup increased their price target on Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $242.98.

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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