SeaCrest Wealth Management LLC Has $31.97 Million Position in Alphabet Inc. $GOOGL

Key Points

• SeaCrest Wealth Management LLC reduced its stake in Alphabet Inc. by 2.0%, now holding $31.97 million worth of shares, which accounts for 3.5% of its total investments.
• Alphabet's recent earnings report revealed a profit of $2.31 per share, exceeding analyst expectations, with revenues of $96.43 billion in the last quarter.
• Analysts have shown optimism for Alphabet, with multiple firms raising their price targets, culminating in a current consensus price target of $225.54 for the stock.

SeaCrest Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 181,412 shares of the information services provider's stock after selling 3,735 shares during the period. Alphabet comprises 3.5% of SeaCrest Wealth Management LLC's holdings, making the stock its 4th biggest position. SeaCrest Wealth Management LLC's holdings in Alphabet were worth $31,970,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOOGL. Bell Bank lifted its holdings in Alphabet by 1.2% during the second quarter. Bell Bank now owns 44,157 shares of the information services provider's stock worth $7,782,000 after buying an additional 505 shares during the period. International Private Wealth Advisors LLC lifted its stake in shares of Alphabet by 12.1% during the 2nd quarter. International Private Wealth Advisors LLC now owns 2,556 shares of the information services provider's stock worth $450,000 after purchasing an additional 275 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Alphabet by 19.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 545,475 shares of the information services provider's stock valued at $96,107,000 after purchasing an additional 88,400 shares in the last quarter. Mandatum Life Insurance Co Ltd grew its stake in Alphabet by 2.4% in the second quarter. Mandatum Life Insurance Co Ltd now owns 51,449 shares of the information services provider's stock valued at $9,067,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC grew its stake in Alphabet by 37.4% in the second quarter. Matthew Goff Investment Advisor LLC now owns 3,674 shares of the information services provider's stock valued at $647,000 after purchasing an additional 1,000 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 in the last 90 days. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Performance

GOOGL opened at $254.72 on Monday. The firm has a fifty day moving average price of $209.36 and a 200 day moving average price of $180.41. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The stock has a market cap of $3.08 trillion, a P/E ratio of 27.13, a P/E/G ratio of 1.72 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 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%. Equities research analysts anticipate 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. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Barclays lifted their price target on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. KeyCorp increased their price objective on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Susquehanna upped their target price on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $225.54.

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.

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