RWA Wealth Partners LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 186,808 shares of the information services provider's stock after selling 26,958 shares during the period. RWA Wealth Partners LLC's holdings in Alphabet were worth $28,888,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in GOOGL. Nia Impact Advisors LLC boosted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth boosted its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the period. Whipplewood Advisors LLC boosted its position in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the period. Aspire Capital Advisors LLC boosted its position in Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. boosted its position in Alphabet by 2.1% during the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GOOGL shares. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JMP Securities upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday. Loop Capital reaffirmed a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Citigroup upped their price target on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Four 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.
Get Our Latest Report on GOOGL
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock valued at $47,223,172 in the last ninety days. 11.64% of the stock is owned by company insiders.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $206.09 on Friday. The firm's 50-day moving average is $186.81 and its 200-day moving average is $173.37. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $208.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.49 trillion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 return on equity of 34.31% and a net margin of 31.12%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.
Alphabet Company Profile
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Free Report)
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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