Tanager Wealth Management LLP Decreases Stock Position in Alphabet Inc. $GOOGL

Tanager Wealth Management LLP lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,400 shares of the information services provider’s stock after selling 477 shares during the quarter. Tanager Wealth Management LLP’s holdings in Alphabet were worth $4,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McGuire Investment Group LLC boosted its stake in shares of Alphabet by 8.9% during the 2nd quarter. McGuire Investment Group LLC now owns 67,651 shares of the information services provider’s stock valued at $11,922,000 after buying an additional 5,542 shares during the last quarter. Warren Street Wealth Advisors LLC raised its position in shares of Alphabet by 7.2% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 10,534 shares of the information services provider’s stock valued at $1,856,000 after acquiring an additional 709 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of Alphabet by 10.2% during the 2nd quarter. Naples Global Advisors LLC now owns 43,703 shares of the information services provider’s stock valued at $7,702,000 after acquiring an additional 4,042 shares in the last quarter. Pure Financial Advisors LLC raised its position in shares of Alphabet by 137.4% during the 2nd quarter. Pure Financial Advisors LLC now owns 57,970 shares of the information services provider’s stock valued at $10,216,000 after acquiring an additional 33,547 shares in the last quarter. Finally, Consolidated Planning Corp raised its position in shares of Alphabet by 2.8% during the 2nd quarter. Consolidated Planning Corp now owns 32,451 shares of the information services provider’s stock valued at $5,719,000 after acquiring an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.5%

Shares of GOOGL stock opened at $244.62 on Thursday. The stock’s 50 day simple moving average is $224.37 and its 200 day simple moving average is $187.53. 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 twelve month low of $140.53 and a twelve month high of $256.00. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.66 and a beta of 1.00.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued 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 of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were 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 directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last three months. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOGL. HSBC started coverage on Alphabet in a research report on Tuesday. They issued a “buy” rating and a $285.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Needham & Company LLC lifted their target price on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Morgan Stanley set a $270.00 target price on Alphabet and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Piper Sandler increased their price target on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $242.98.

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.