SYSTM Wealth Solutions LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

SYSTM Wealth Solutions LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 48.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,388 shares of the information services provider’s stock after selling 47,610 shares during the period. Alphabet makes up approximately 2.0% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 2nd largest holding. SYSTM Wealth Solutions LLC’s holdings in Alphabet were worth $9,178,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nebula Research & Development LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at $787,000. New Hampshire Trust lifted its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in Alphabet during the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP boosted its position in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the period. Finally, American International Group Inc. grew its stake in shares of Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after buying an additional 200,891 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The stock was 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 owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the transaction, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,725 shares of company stock valued at $31,933,031. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of NASDAQ GOOGL opened at $166.99 on Wednesday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a 50-day moving average of $162.22 and a 200 day moving average of $167.02. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the business earned $1.44 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Piper Sandler reissued an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research note on Monday. Argus lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm reissued a “buy” rating and set a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Eight equities research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.35.

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.