Wealth Group Ltd. Sells 64 Shares of Alphabet Inc. $GOOGL

Wealth Group Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 1,529 shares of the information services provider’s stock after selling 64 shares during the period. Wealth Group Ltd.’s holdings in Alphabet were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. lifted its stake in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG boosted its holdings in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Citizens Jmp boosted their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Truist Financial raised their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Finally, Wells Fargo & Company increased their price target on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.90.

Alphabet Price Performance

GOOGL opened at $245.79 on Friday. The stock has a market cap of $2.97 trillion, a P/E ratio of 26.18, a P/E/G ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. 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 company has a fifty day simple moving average of $214.70 and a 200 day simple moving average of $182.46.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. 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%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% of the company’s stock.

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.