Wealthcare Capital Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 53.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter valued at $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an “overweight” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. UBS Group lifted their price objective on shares of Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Citizens Jmp lifted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $245.88.
Insider Activity
In related news, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock valued at $59,062,683 in the last quarter. Insiders own 11.64% of the company’s stock.
Alphabet Stock Down 2.1%
Shares of NASDAQ:GOOGL opened at $236.57 on Monday. The company has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00. The firm’s 50-day simple moving average is $226.31 and its 200-day simple moving average is $188.84. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business 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%. As a group, equities 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 was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued 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 payout ratio is currently 8.95%.
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.
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