Alphabet Inc. $GOOGL Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,041 shares of the information services provider’s stock after selling 2,234 shares during the quarter. Alphabet makes up about 2.9% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest position. FRG Family Wealth Advisors LLC’s holdings in Alphabet were worth $16,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Gimbal Financial increased its position 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 purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co grew its stake in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC increased its holdings in shares of Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares in the last quarter. Bfsg LLC raised its stake in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the last quarter. Finally, Financial Council LLC boosted its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $290.10 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The stock has a market capitalization of $3.51 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.86 and a beta of 1.05. The business has a 50-day moving average price of $252.77 and a two-hundred day moving average price of $205.82.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Sanford C. Bernstein raised their target price on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. CICC Research lifted their price target on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $304.10.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% 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, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,396 shares of company stock valued at $54,105,275 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet 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.