Signature Wealth Management Partners LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Signature Wealth Management Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,036 shares of the information services provider’s stock after selling 131 shares during the period. Alphabet makes up approximately 1.3% of Signature Wealth Management Partners LLC’s investment portfolio, making the stock its 14th largest holding. Signature Wealth Management Partners LLC’s holdings in Alphabet were worth $1,830,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC raised its holdings in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC raised its holdings in shares of Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. First PREMIER Bank raised its holdings in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC raised its holdings in shares of Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 242,552 shares of company stock worth $40,287,253 over the last 90 days. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Argus boosted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $178.35 on Friday. 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 twelve month low of $127.90 and a twelve month high of $191.75. The stock has a 50 day moving average of $163.54 and a two-hundred day moving average of $169.59. The stock has a market cap of $2.18 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.25 and a beta of 1.03.

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

Alphabet Dividend Announcement

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

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.