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

Warm Springs Advisors Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,851 shares of the information services provider’s stock after selling 525 shares during the period. Alphabet accounts for approximately 4.5% of Warm Springs Advisors Inc.’s investment portfolio, 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.

Several other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its position 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 buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in 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 period. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Alphabet during the first quarter worth $50,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 189,896 shares of company stock worth $47,653,637 over the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Canaccord Genuity Group increased their price target on Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Rosenblatt Securities boosted their price target on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Daiwa Capital Markets raised their price target on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Alphabet Stock Performance

GOOGL opened at $284.28 on Wednesday. The firm’s fifty day simple moving average is $259.16 and its two-hundred day simple moving average is $211.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $293.95. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 28.04, a PEG 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 released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. 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 (DPR) is 8.28%.

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.