MinichMacGregor Wealth Management LLC Sells 1,432 Shares of Alphabet Inc. $GOOGL

Key Points

• MinichMacGregor Wealth Management LLC sold 1,432 shares of Alphabet Inc., reducing its holdings in the company by 40.6% to 2,094 shares, worth approximately $369,000.
• Alphabet's recent quarterly earnings surpassed expectations, reporting $2.31 earnings per share on revenues of $96.43 billion, exceeding the consensus estimates.
• The firm declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%, indicating a comparatively low dividend payout ratio of 8.95%.

MinichMacGregor Wealth Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,094 shares of the information services provider's stock after selling 1,432 shares during the period. MinichMacGregor Wealth Management LLC's holdings in Alphabet were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Guardian Wealth Management Inc. grew 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 valued at $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $39,000. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. Royal Bank Of Canada boosted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating 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. DA Davidson boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Mizuho set a $295.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a report on Monday. Finally, Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $237.10.

Alphabet Trading Up 0.7%

Shares of Alphabet stock opened at $244.90 on Thursday. The firm has a 50-day simple moving average of $219.14 and a two-hundred day simple moving average of $184.66. The company has a market cap of $2.96 trillion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,285 shares of company stock worth $50,994,787 in the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet 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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