MBL Wealth LLC Lowers Holdings in Alphabet Inc. $GOOGL

Key Points

• MBL Wealth LLC reduced its holdings in Alphabet Inc. by 6.1% during the second quarter, bringing its total to 22,439 shares valued at approximately $3.95 million.
• Alphabet Inc. recently declared a quarterly dividend of $0.21, representing an annualized yield of 0.4% with a payout ratio of 8.95%.
• The company's stock price recently opened at $236.57 and has seen significant fluctuations with a 12-month range between $140.53 and $256.00.

MBL Wealth LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,439 shares of the information services provider's stock after selling 1,445 shares during the quarter. MBL Wealth LLC's holdings in Alphabet were worth $3,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. GAMMA Investing LLC lifted its stake in Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock worth $16,062,000 after acquiring an additional 9,900 shares during the last quarter. Smithbridge Asset Management Inc. DE purchased a new position in Alphabet in the first quarter worth approximately $6,746,000. Finally, Lynch Asset Management Inc. lifted its stake in Alphabet by 0.4% in the first quarter. Lynch Asset Management Inc. now owns 71,000 shares of the information services provider's stock worth $10,979,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 2.1%

GOOGL stock opened at $236.57 on Monday. The company has a fifty day moving average price of $226.31 and a 200 day moving average price of $188.84. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share 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 was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Wedbush lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Wall Street Zen downgraded shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Roth Capital boosted 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. DA Davidson boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Finally, Susquehanna boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $245.88.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 103 shares of the company's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock worth $59,062,683 over the last 90 days. Company insiders own 11.64% of the company's stock.

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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