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Three Seasons Wealth LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Alphabet logo with Computer and Technology background

Key Points

  • Three Seasons Wealth LLC reduced its stake in Alphabet Inc. by 10.8%, selling 1,915 shares, bringing its total ownership to 15,814 shares valued at approximately $2.47 million.
  • Alphabet reported a quarterly earnings per share (EPS) of $2.31, surpassing analyst expectations, with revenue of $96.43 billion representing a 13.8% year-over-year increase.
  • Insiders sold a total of 249,399 shares of Alphabet stock valued at about $43.5 million over the last ninety days, reflecting a significant insider selling activity.
  • Want stock alerts on Alphabet? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Three Seasons Wealth LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,814 shares of the information services provider's stock after selling 1,915 shares during the period. Alphabet accounts for approximately 1.2% of Three Seasons Wealth LLC's holdings, making the stock its 16th largest position. Three Seasons Wealth LLC's holdings in Alphabet were worth $2,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the first quarter worth about $26,000. LSV Asset Management acquired a new stake in Alphabet during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC bought a new stake in Alphabet in the first quarter valued at $32,000. Finally, Graybill Wealth Management LTD. acquired a new stake in shares of Alphabet during the 1st quarter worth about $44,000. Institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

GOOG has been the subject of several research reports. Pivotal Research raised their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. KeyCorp decreased their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Cowen reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Finally, Westpark Capital restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

View Our Latest Analysis on GOOG

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business'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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock valued at $49,474,273 in the last ninety days. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.8%

Shares of GOOG traded up $1.60 during trading hours on Wednesday, hitting $196.92. 15,353,558 shares of the stock were exchanged, compared to its average volume of 26,004,010. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business has a 50-day moving average of $180.32 and a 200-day moving average of $174.53. The firm has a market capitalization of $2.38 trillion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. 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:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

About Alphabet

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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