USAdvisors Wealth Management LLC Cuts Holdings in Alphabet Inc. $GOOGL

USAdvisors Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,572 shares of the information services provider’s stock after selling 293 shares during the period. USAdvisors Wealth Management LLC’s holdings in Alphabet were worth $453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Alphabet by 3.9% in the fourth 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 last quarter. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% in the fourth 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 last quarter. GAMMA Investing LLC lifted its stake in Alphabet by 10.5% in the first 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 last quarter. Smithbridge Asset Management Inc. DE bought a new stake in Alphabet in the first quarter worth about $6,746,000. Finally, Lynch Asset Management Inc. lifted its stake in Alphabet by 0.4% in the first quarter. Lynch Asset Management Inc. now owns 71,000 shares of the information services provider’s stock worth $10,979,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Citizens Jmp lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Guggenheim lifted their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Needham & Company LLC lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $245.88.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, 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 SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on 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 owned 5,716 shares of the company’s stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,338 shares of company stock valued at $59,062,683. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $236.57 on Monday. The firm 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 company’s 50 day moving average is $226.31 and its 200 day 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 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s 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.