Phoenix Wealth Advisors Sells 175 Shares of Alphabet Inc. $GOOGL

Phoenix Wealth Advisors reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,372 shares of the information services provider’s stock after selling 175 shares during the quarter. Phoenix Wealth Advisors’ holdings in Alphabet were worth $594,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after buying an additional 4,224,497 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alphabet by 11.4% in 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 valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Invesco Ltd. raised its holdings in Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Finally, Deutsche Bank AG raised its holdings in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating and issued a $343.00 target price (up previously from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Wedbush restated an “outperform” rating and issued a $320.00 price target (up from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Daiwa Capital Markets lifted their target price on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Wolfe Research reissued an “outperform” rating and issued a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $307.84.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director owned 4,516 shares in the company, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 225,072 shares of company stock valued at $58,074,027. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $319.95 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a 50 day moving average of $266.58 and a 200-day moving average of $216.93. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend 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.