Reyes Financial Architecture Inc. Trims Stock Position in Alphabet Inc. $GOOGL

Reyes Financial Architecture Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,705 shares of the information services provider’s stock after selling 885 shares during the quarter. Reyes Financial Architecture Inc.’s holdings in Alphabet were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Nuveen LLC purchased a new stake in Alphabet in the first quarter valued at approximately $4,317,606,000. GAMMA Investing LLC raised its position in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Vanguard Group Inc. raised its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. raised its position in Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock valued at $1,593,201,000 after purchasing an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Alphabet in the fourth quarter valued at 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 NASDAQ:GOOGL opened at $251.16 on Wednesday. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $253.04. The firm’s 50-day simple moving average is $204.93 and its 200-day simple moving average is $178.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced 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. 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 the consensus estimate of $93.60 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm 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. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,588 shares of company stock valued at $44,296,554 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. Loop Capital reissued a “hold” rating and issued a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada boosted their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Westpark Capital boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $222.85.

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.