Litman Gregory Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,061 shares of the information services provider's stock after selling 4,031 shares during the period. Litman Gregory Wealth Management LLC's holdings in Alphabet were worth $9,703,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Moffett Nathanson lifted their target price on Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Cantor Fitzgerald lifted their target price on Alphabet from $201.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Finally, Wolfe Research lifted their target price on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Four investment 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 stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.26.
Check Out Our Latest Report on GOOGL
Insiders Place Their Bets
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was 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 directly owned 243,400 shares of the company's stock, valued at $45,213,984. This 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 through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,838 shares of company stock valued at $53,070,333. 11.55% of the stock is owned by company insiders.
Alphabet Stock Performance
Shares of Alphabet stock opened at $245.45 on Wednesday. The business has a 50-day simple moving average of $228.31 and a 200-day simple moving average of $189.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.97 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during 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%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Alphabet Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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