LongView Wealth Management Sells 1,025 Shares of Alphabet Inc. $GOOGL

Key Points

• LongView Wealth Management has reduced its stake in Alphabet Inc. (GOOGL) by 21.4%, selling 1,025 shares during the second quarter, leaving it with 3,771 shares valued at $665,000.
• Recent analyst reports have been mixed, with UBS raising the price target to $202.00 while Canaccord Genuity raised it further to $270.00, reflecting confidence in Alphabet's potential growth.
• Alphabet has announced a quarterly dividend of $0.21, with a payout ratio of 8.95%, signaling its commitment to returning value to shareholders amid strong performance indicators.

LongView Wealth Management lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,771 shares of the information services provider's stock after selling 1,025 shares during the quarter. LongView Wealth Management's holdings in Alphabet were worth $665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Alphabet in the first quarter worth $4,317,606,000. GAMMA Investing LLC raised its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Alphabet in the fourth quarter valued at approximately $1,375,509,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Rosenblatt Securities boosted their price objective on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Piper Sandler upped their price target on Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, DA Davidson upped their price target on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.31.

Alphabet Stock Down 0.9%

NASDAQ GOOGL traded down $2.19 during trading hours on Monday, hitting $252.53. 32,240,768 shares of the company were exchanged, compared to its average volume of 38,953,800. The company has a 50 day moving average of $209.36 and a two-hundred day moving average of $180.41. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The firm has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.72 and a beta of 1.01.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business'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 transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. 11.55% of the stock is currently owned by corporate insiders.

About Alphabet

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.