U.S. Capital Wealth Advisors LLC Has $17.63 Million Stake in Alphabet Inc. $GOOGL

Key Points

• U.S. Capital Wealth Advisors LLC reduced its stake in Alphabet Inc. by 1.1%, holding 100,061 shares worth approximately $17.63 million as of its latest SEC filing.
• Alphabet's stock has received positive attention from analysts, with price targets being raised by firms such as Guggenheim, Piper Sandler, and Needham, reflecting a general confidence in the company's growth and a consensus rating of Moderate Buy.
• Recent insider transactions included significant sales from director Kavitark Ram Shriram and insider John Kent Walker, signaling a decrease in their shares but not affecting overall insider ownership, which stands at 11.64%.

U.S. Capital Wealth Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,061 shares of the information services provider's stock after selling 1,063 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Alphabet were worth $17,634,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Copia Wealth Management bought a new position in Alphabet in the fourth quarter valued at about $122,000. Harraden Circle Investments LLC acquired a new position in Alphabet during the fourth quarter worth about $276,000. Finally, Anchor Pointe Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $1,015,000. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler upped their price target on shares of Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Needham & Company LLC boosted their price objective on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $231.31.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction 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 trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 over the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $247.14 on Thursday. The stock has a market capitalization of $2.99 trillion, a PE ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.01. The business's 50 day simple moving average is $213.46 and its 200 day simple moving average is $181.91. 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 Inc. has a one year low of $140.53 and a one year high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 analysts' expectations of $93.60 billion. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. 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.

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