Lifeworks Advisors LLC Sells 920 Shares of Alphabet Inc. $GOOGL

Lifeworks Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,691 shares of the information services provider’s stock after selling 920 shares during the quarter. Lifeworks Advisors LLC’s holdings in Alphabet were worth $1,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Deutsche Bank AG grew its position in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GOOGL shares. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Bank of America upped their target price on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Needham & Company LLC increased their price target on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $286.71 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01. The firm has a market cap of $3.46 trillion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50 day moving average price of $255.49 and a 200-day moving average price of $207.29.

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

Alphabet Dividend Announcement

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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.