Alphabet Inc. (NASDAQ:GOOGL) Position Cut by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,499 shares of the information services provider’s stock after selling 268 shares during the period. Alphabet makes up 1.0% of Monterey Private Wealth Inc.’s holdings, making the stock its 20th largest position. Monterey Private Wealth Inc.’s holdings in Alphabet were worth $2,902,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Syon Capital LLC increased its stake in shares of Alphabet by 12.0% during the fourth quarter. Syon Capital LLC now owns 41,695 shares of the information services provider’s stock valued at $5,824,000 after acquiring an additional 4,472 shares during the period. Beaird Harris Wealth Management LLC increased its position in shares of Alphabet by 48.7% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 2,115 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 693 shares during the period. Abel Hall LLC bought a new stake in shares of Alphabet in the 4th quarter worth $768,000. American International Group Inc. lifted its holdings in shares of Alphabet by 11.5% in 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 period. Finally, Forthright Family Wealth Advisory LLC bought a new position in Alphabet during the fourth quarter valued at about $393,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOOGL shares. BMO Capital Markets cut their price target on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Stock Up 0.7 %

GOOGL stock opened at $163.24 on Monday. The firm has a market cap of $2.02 trillion, a PE ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a fifty day simple moving average of $161.37 and a 200 day simple moving average of $167.86. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced 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 during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS 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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Alphabet 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.