1900 Wealth Management LLC Decreases Stake in Alphabet Inc. $GOOGL

1900 Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,234 shares of the information services provider’s stock after selling 3,034 shares during the quarter. 1900 Wealth Management LLC’s holdings in Alphabet were worth $1,451,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GOOGL. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. GAMMA Investing LLC grew its holdings in shares of Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after purchasing an additional 9,900 shares during the period. Investment Partners Asset Management Inc. grew its holdings in shares of Alphabet by 1.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 17,534 shares of the information services provider’s stock worth $2,711,000 after purchasing an additional 241 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its holdings in shares of Alphabet by 2.2% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 20,302 shares of the information services provider’s stock worth $3,140,000 after purchasing an additional 430 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last three months. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Citigroup boosted their target price on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Loop Capital restated a “hold” rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Wedbush upped their price target on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. JMP Securities upped their price target on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a report on Friday, September 19th. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $245.88.

Alphabet Price Performance

Shares of GOOGL opened at $236.57 on Friday. The company has a market cap of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00. The stock has a fifty day moving average price of $226.31 and a 200 day moving average price of $188.49. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts forecast 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 paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is presently 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.