Werba Rubin Papier Wealth Management Sells 2,675 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Werba Rubin Papier Wealth Management decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,379 shares of the information services provider's stock after selling 2,675 shares during the period. Werba Rubin Papier Wealth Management's holdings in Alphabet were worth $1,760,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of GOOGL. Atlas Legacy Advisors LLC grew its stake in Alphabet by 6.8% during the first quarter. Atlas Legacy Advisors LLC now owns 6,089 shares of the information services provider's stock valued at $942,000 after acquiring an additional 387 shares in the last quarter. Inlet Private Wealth LLC lifted its position in Alphabet by 3.9% during the first quarter. Inlet Private Wealth LLC now owns 25,828 shares of the information services provider's stock valued at $3,994,000 after purchasing an additional 980 shares during the last quarter. Abbot Financial Management Inc. lifted its position in Alphabet by 1.3% during the first quarter. Abbot Financial Management Inc. now owns 36,820 shares of the information services provider's stock valued at $5,694,000 after purchasing an additional 464 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its position in Alphabet by 1.3% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 19,913 shares of the information services provider's stock valued at $3,079,000 after purchasing an additional 254 shares during the last quarter. Finally, Passive Capital Management LLC. bought a new stake in Alphabet during the first quarter valued at approximately $295,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $195.04 on Tuesday. 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 cap of $2.36 trillion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. The business's 50-day simple moving average is $178.85 and its 200-day simple moving average is $172.81. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GOOGL shares. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Guggenheim boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. KeyCorp upped their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Truist Financial reiterated a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.39.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing 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 stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,399 shares of company stock worth $43,525,794. Company insiders own 11.55% of the company's stock.

Alphabet Company Profile

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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