Requisite Capital Management LLC Decreases Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Requisite Capital Management LLC reduced its stake in Alphabet Inc. by 45.7% in the 2nd quarter, owning 2,536 shares valued at $447,000 after selling 2,136 shares.
• In contrast, other hedge funds, such as Guardian Wealth Management Inc., significantly increased their holdings, boosting Alphabet’s ownership by 242.9% during the first quarter.
• Analysts show mixed views on Alphabet's stock, with BNP Paribas downgrading it to a "hold" while JPMorgan and Wells Fargo raised their price targets significantly, indicating a consensus target price of $240.76.

Requisite Capital Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 45.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,536 shares of the information services provider's stock after selling 2,136 shares during the quarter. Requisite Capital Management LLC's holdings in Alphabet were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in 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. purchased a new position in Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% during the 1st 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 during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GOOGL shares. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Sanford C. Bernstein boosted their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $240.76.

Alphabet Stock Performance

NASDAQ GOOGL opened at $250.43 on Tuesday. 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 twelve month low of $140.53 and a twelve month high of $256.00. The business has a 50-day moving average price of $222.41 and a 200-day moving average price of $186.72. The firm has a market cap of $3.03 trillion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. As a group, equities research 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 was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction 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 completion of the sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is owned by insiders.

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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