Lifestyle Asset Management Inc. Has $1.67 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Lifestyle Asset Management Inc. reduced its holdings in Alphabet Inc. by 10.9%, holding 9,458 shares worth approximately $1.67 million, which is 0.8% of its total portfolio.
• CEO Sundar Pichai recently sold 32,500 shares of Alphabet, valued at over $7.4 million, leading to a 1.32% decrease in his ownership.
• Alphabet announced a quarterly dividend of $0.21, marking an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Lifestyle Asset Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,458 shares of the information services provider's stock after selling 1,155 shares during the period. Alphabet accounts for 0.8% of Lifestyle Asset Management Inc.'s portfolio, making the stock its 26th largest holding. Lifestyle Asset Management Inc.'s holdings in Alphabet were worth $1,667,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOGL. Enzi Wealth boosted its holdings in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC boosted its holdings in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC boosted its holdings in shares of Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after buying an additional 67 shares during the period. Rainey & Randall Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 2.1% during the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after buying an additional 67 shares during the period. Finally, Florida Financial Advisors LLC boosted its holdings in shares of Alphabet by 0.4% during the 1st quarter. Florida Financial Advisors LLC now owns 16,311 shares of the information services provider's stock worth $2,523,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,588 shares of company stock valued at $44,296,554 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.2%

Shares of NASDAQ GOOGL opened at $251.16 on Wednesday. The firm has a market cap of $3.04 trillion, a PE ratio of 26.75, a P/E/G ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $253.04. The company's fifty day simple moving average is $204.93 and its 200 day simple moving average is $178.65. 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 released its quarterly earnings data 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

Several analysts recently commented on GOOGL shares. Bank of America lifted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Guggenheim boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $222.85.

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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