Colony Family Offices LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Colony Family Offices LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 48.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,640 shares of the information services provider’s stock after selling 1,529 shares during the quarter. Colony Family Offices LLC’s holdings in Alphabet were worth $299,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Wealthcare Capital Management LLC boosted its stake in Alphabet by 6.0% in the fourth quarter. Wealthcare Capital Management LLC now owns 2,431 shares of the information services provider’s stock worth $340,000 after buying an additional 138 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Alphabet by 22.7% in the 4th quarter. Eagle Bay Advisors LLC now owns 13,125 shares of the information services provider’s stock valued at $1,833,000 after purchasing an additional 2,426 shares in the last quarter. Wade G W & Inc. grew its holdings in shares of Alphabet by 22.0% during the 4th quarter. Wade G W & Inc. now owns 110,260 shares of the information services provider’s stock valued at $15,402,000 after purchasing an additional 19,880 shares during the last quarter. Barings LLC raised its position in Alphabet by 1.6% in the 4th quarter. Barings LLC now owns 32,786 shares of the information services provider’s stock worth $4,580,000 after purchasing an additional 507 shares during the period. Finally, Guardian Capital LP lifted its stake in Alphabet by 3.4% in the fourth quarter. Guardian Capital LP now owns 90,704 shares of the information services provider’s stock worth $12,670,000 after purchasing an additional 3,000 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on GOOGL shares. Mizuho lifted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Roth Mkm reiterated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. Argus raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group upped their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOGL opened at $159.81 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $165.62 and a two-hundred day simple moving average of $165.13. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the company earned $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now directly owns 29,324 shares in the company, valued at $4,838,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock valued at $29,762,606 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.