Alphabet Inc. $GOOGL Position Lowered by Warm Springs Advisors Inc.

Warm Springs Advisors Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,851 shares of the information services provider’s stock after selling 525 shares during the quarter. Alphabet comprises about 4.5% of Warm Springs Advisors Inc.’s holdings, making the stock its 5th biggest holding. Warm Springs Advisors Inc.’s holdings in Alphabet were worth $5,261,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its stake in 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 acquiring an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet in the first quarter valued at $50,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.3%

GOOGL opened at $284.28 on Wednesday. The business’s 50 day moving average is $259.16 and its two-hundred day moving average is $211.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $293.95. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. 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 issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid 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 is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 189,896 shares of company stock worth $47,653,637. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Moffett Nathanson increased their price target on Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Roth Capital increased their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. DA Davidson raised their price objective on shares of Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

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.