WCG Wealth Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,773 shares of the information services provider's stock after selling 6,441 shares during the quarter. Alphabet accounts for about 1.1% of WCG Wealth Advisors LLC's portfolio, making the stock its 22nd largest holding. WCG Wealth Advisors LLC's holdings in Alphabet were worth $14,810,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Nuveen LLC acquired a new position in Alphabet during the first quarter valued at approximately $4,317,606,000. GAMMA Investing LLC raised its stake in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. raised its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Wellington Management Group LLP increased its position in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the 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 transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $47,225,230 in the last 90 days. 11.64% of the stock is currently owned by company insiders.
Alphabet Trading Up 0.6%
NASDAQ:GOOGL traded up $1.27 on Friday, reaching $212.91. 39,702,089 shares of the stock traded hands, compared to its average volume of 28,893,466. The firm has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company's 50 day moving average is $190.44 and its 200-day moving average is $174.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $214.65.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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 $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate 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 EPS for the current fiscal year.
Alphabet Announces Dividend
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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. JMP Securities upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Finally, Wedbush upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.
Read Our Latest Report on Alphabet
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.
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