Alphabet Inc. $GOOGL Shares Sold by Talon Private Wealth LLC

Talon Private Wealth LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,461 shares of the information services provider’s stock after selling 1,853 shares during the period. Talon Private Wealth LLC’s holdings in Alphabet were worth $999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nia Impact Advisors LLC raised its stake in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares in the last quarter. Enzi Wealth grew its position in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC raised its position in shares of Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock worth $1,086,000 after buying an additional 67 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. raised its position in shares of Alphabet by 2.1% during the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider’s stock worth $496,000 after buying an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. DA Davidson increased their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Westpark Capital increased their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price target on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Truist Financial restated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Bank of America raised their target price on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.33.

Alphabet Stock Up 1.2%

Shares of Alphabet stock opened at $235.00 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $235.76. The firm has a market capitalization of $2.84 trillion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $195.79 and its 200-day moving average is $175.41.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during 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%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business’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 sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is currently owned by insiders.

Alphabet 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.