Alphabet Inc. $GOOGL Shares Sold by Wealthcare Capital Management LLC

Wealthcare Capital Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 53.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,251 shares of the information services provider’s stock after selling 1,449 shares during the period. Wealthcare Capital Management LLC’s holdings in Alphabet were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC raised its position in Alphabet by 7.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 61,121 shares of the information services provider’s stock worth $10,771,000 after acquiring an additional 4,246 shares during the last quarter. Tandem Investment Partners LLC acquired a new position in Alphabet during the second quarter worth about $208,000. Hill Island Financial LLC raised its position in Alphabet by 152.6% during the second quarter. Hill Island Financial LLC now owns 5,292 shares of the information services provider’s stock worth $933,000 after acquiring an additional 3,197 shares during the last quarter. Berger Financial Group Inc raised its position in Alphabet by 2.0% during the second quarter. Berger Financial Group Inc now owns 65,863 shares of the information services provider’s stock worth $11,607,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Compass Financial Group INC SD acquired a new position in Alphabet during the second quarter worth about $201,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $236.57 on Monday. The firm has a 50 day simple moving average of $226.31 and a 200-day simple moving average of $188.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $2.86 trillion, a PE ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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 analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Westpark Capital lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. KeyCorp boosted their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Truist Financial boosted their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $245.88.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock valued at $59,062,683 over the last quarter. Company insiders own 11.64% 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.