Nvwm LLC Decreases Stock Holdings in Alphabet Inc. $GOOGL

Nvwm LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 52.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,339 shares of the information services provider’s stock after selling 32,080 shares during the quarter. Alphabet comprises 1.2% of Nvwm LLC’s holdings, making the stock its 15th largest holding. Nvwm LLC’s holdings in Alphabet were worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Gimbal Financial raised its stake in shares of Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares in the last quarter. Missouri Trust & Investment Co grew its holdings in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the last quarter. Silver Coast Investments LLC increased its position in shares of Alphabet by 1.3% during the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Finally, Bfsg LLC lifted its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were 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 owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 192,674 shares of company stock worth $48,454,423. 11.64% of the stock is owned by corporate insiders.

Alphabet Trading Up 3.0%

Shares of Alphabet stock opened at $292.81 on Thursday. The stock has a market cap of $3.53 trillion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm has a fifty day moving average price of $260.23 and a 200 day moving average price of $211.57. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $303.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced 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 company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. 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 announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. Truist Financial upped their target price on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Tigress Financial upped their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Susquehanna lifted their target price on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein raised their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

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.