Centricity Wealth Management LLC Has $404,000 Stock Holdings in Alphabet Inc. $GOOGL

Centricity Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,293 shares of the information services provider’s stock after selling 165 shares during the quarter. Centricity Wealth Management LLC’s holdings in Alphabet were worth $404,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOGL. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Needham & Company LLC boosted their price target on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the company an “equal weight” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $242.98.

Alphabet Stock Down 1.9%

Shares of NASDAQ GOOGL opened at $245.76 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a 50-day moving average price of $223.41 and a two-hundred day moving average price of $187.13.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.55% of the company’s stock.

About Alphabet

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.