McAdam LLC Sells 371 Shares of Alphabet Inc. $GOOGL

McAdam LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,205 shares of the information services provider’s stock after selling 371 shares during the period. McAdam LLC’s holdings in Alphabet were worth $1,733,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in Alphabet by 20.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 74,363 shares of the information services provider’s stock worth $11,499,000 after purchasing an additional 12,420 shares during the last quarter. Acorns Advisers LLC grew its position in Alphabet by 20.3% during the 1st quarter. Acorns Advisers LLC now owns 4,826 shares of the information services provider’s stock worth $746,000 after purchasing an additional 814 shares during the last quarter. Belpointe Asset Management LLC grew its position in Alphabet by 12.4% during the 1st quarter. Belpointe Asset Management LLC now owns 73,460 shares of the information services provider’s stock worth $11,360,000 after purchasing an additional 8,103 shares during the last quarter. Focus Partners Wealth grew its position in Alphabet by 11.0% during the 1st quarter. Focus Partners Wealth now owns 2,126,417 shares of the information services provider’s stock worth $328,799,000 after purchasing an additional 211,213 shares during the last quarter. Finally, Capital Impact Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $17,468,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. KeyCorp upped their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Barclays upped their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Needham & Company LLC upped their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.44.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $239.18 on Wednesday. The company’s fifty day moving average price is $198.22 and its 200 day moving average price is $176.17. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $240.47. The company has a market capitalization of $2.89 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at $492,281,408.64. This trade represents a 1.30% 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 dated 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 owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is currently owned by company insiders.

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.