Alphabet Inc. $GOOGL Shares Sold by Triangle Securities Wealth Management

Key Points

• Triangle Securities Wealth Management reduced its stake in Alphabet Inc. by 42.7% during the second quarter, owning 2,754 shares valued at approximately $485,000 after selling 2,055 shares.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for about $8.1 million, reducing his total shares owned by 1.34%.
• Alphabet recently declared a quarterly dividend of $0.21 per share, reflecting an annualized dividend of $0.84 with a dividend yield of 0.3%.

Triangle Securities Wealth Management lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 42.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,754 shares of the information services provider's stock after selling 2,055 shares during the quarter. Triangle Securities Wealth Management's holdings in Alphabet were worth $485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in Alphabet during the 1st quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in 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. acquired a new stake in Alphabet during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup boosted their target price on Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Tigress Financial upped their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Friday, September 5th. Finally, BMO Capital Markets lifted 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. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $231.31.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,088 shares of company stock valued at $52,405,304. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock traded down $2.19 during mid-day trading on Monday, reaching $252.53. 32,240,768 shares of the company's stock traded hands, compared to its average volume of 38,953,800. 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 firm has a market capitalization of $3.05 trillion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The firm has a 50 day moving average price of $209.36 and a two-hundred day moving average price of $180.41.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced 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. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

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.