Allworth Financial LP Has $26.12 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Allworth Financial LP reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,465 shares of the information services provider’s stock after selling 162 shares during the period. Allworth Financial LP’s holdings in Alphabet were worth $26,116,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. New Hampshire Trust boosted its stake in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP lifted its holdings in shares of 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 worth $962,000 after buying an additional 2,351 shares in the last quarter. Trinity Financial Advisors LLC boosted its position in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Performance

NASDAQ GOOGL opened at $176.51 on Thursday. The company has a market cap of $2.17 trillion, a P/E ratio of 23.41, a PEG ratio of 1.20 and a beta of 1.03. The company has a fifty day simple moving average of $162.86 and a 200 day simple moving average of $169.36. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock worth $38,424,448 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.