Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,525 shares of the information services provider’s stock after selling 1,254 shares during the period. Alphabet accounts for about 1.7% of Prestige Wealth Management Group LLC’s holdings, making the stock its 14th biggest position. Prestige Wealth Management Group LLC’s holdings in Alphabet were worth $7,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Capital Research Global Investors increased its position in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the period. Bank of New York Mellon Corp increased its position in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. Fisher Asset Management LLC increased its position in Alphabet by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares during the period. Finally, Capital World Investors increased its position in Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock valued at $29,762,606 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Roth Mkm reiterated a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Trading Up 0.9 %

Shares of Alphabet stock opened at $163.59 on Monday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.02 trillion, a PE ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The business’s fifty day moving average is $164.72 and its two-hundred day moving average is $165.79. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

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, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the company posted $1.44 EPS. Analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.