Key Client Fiduciary Advisors LLC Decreases Holdings in Alphabet Inc. $GOOGL

Key Client Fiduciary Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,335 shares of the information services provider’s stock after selling 162 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Alphabet were worth $1,821,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $4,317,606,000. GAMMA Investing LLC raised its position in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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 during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alphabet during the 4th quarter worth approximately $1,375,509,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.2%

Shares of Alphabet stock opened at $251.16 on Wednesday. The company has a fifty day moving average price of $204.93 and a 200 day moving average price of $178.65. 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 twelve month low of $140.53 and a twelve month high of $253.04. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Truist Financial restated a “buy” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. JMP Securities boosted their price target on Alphabet from $225.00 to $250.00 and gave the company a “market outperform” rating in a report on Wednesday, September 3rd. Tigress Financial boosted their price target on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Finally, Barclays boosted their price target on Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.85.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,588 shares of company stock worth $44,296,554 over the last quarter. 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.