Mccarter Private Wealth Services LLC Has $2.87 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Mccarter Private Wealth Services LLC reduced its stake in Alphabet by 48.2% in Q1, now holding 18,550 shares, valued at approximately $2.87 million.
• Several large investors, including Nuveen LLC and GAMMA Investing LLC, significantly increased their positions in Alphabet during the same period.
• Alphabet recently reported earnings of $2.31 per share for the latest quarter, surpassing analyst estimates, along with announcing a quarterly dividend of $0.21 per share.

Mccarter Private Wealth Services LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 48.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,550 shares of the information services provider's stock after selling 17,230 shares during the period. Alphabet comprises about 1.9% of Mccarter Private Wealth Services LLC's portfolio, making the stock its 19th largest position. Mccarter Private Wealth Services LLC's holdings in Alphabet were worth $2,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL stock traded up $0.34 during trading hours on Wednesday, reaching $207.48. The stock had a trading volume of 22,957,401 shares, compared to its average volume of 30,314,084. The stock has a market capitalization of $2.51 trillion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day simple moving average of $188.75 and a 200 day simple moving average of $173.75. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $210.52.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. Wedbush raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Bank of America raised their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, August 21st. Rosenblatt Securities raised their target price on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Roth Capital raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $211.53.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,719 shares of company stock worth $47,223,172. 11.64% of the stock is 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.