Triangle Securities Wealth Management decreased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,087 shares of the information services provider’s stock after selling 572 shares during the period. Triangle Securities Wealth Management’s holdings in Alphabet were worth $927,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the fourth quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC lifted its holdings in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.
Alphabet Stock Performance
Shares of Alphabet stock traded up $1.64 during trading hours on Friday, hitting $163.67. 28,602,285 shares of the company’s stock traded hands, compared to its average volume of 28,282,494. The company has a fifty day simple moving average of $177.03 and a 200-day simple moving average of $161.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the firm earned $1.44 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold 122,308 shares of company stock worth $21,385,000 over the last quarter. 11.55% of the stock is currently owned by company insiders.
Analyst Ratings Changes
GOOGL has been the subject of a number of analyst reports. Oppenheimer raised their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Raymond James increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price target on shares of Alphabet in a research report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.74.
View Our Latest Analysis on GOOGL
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.
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