Processus Wealth & Capital Management LLC Sells 346 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Processus Wealth & Capital Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,050 shares of the information services provider’s stock after selling 346 shares during the quarter. Alphabet accounts for approximately 2.7% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Processus Wealth & Capital Management LLC’s holdings in Alphabet were worth $3,325,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC lifted its stake in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC raised its stake in Alphabet by 0.8% in 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 last quarter. Christopher J. Hasenberg Inc lifted its position in 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 grew its stake in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC increased its holdings in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Truist Financial lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, JMP Securities increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Seven 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Down 1.7 %

Shares of GOOGL opened at $164.76 on Friday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.27 and a beta of 1.03. The firm has a 50-day moving average price of $167.64 and a 200 day moving average price of $170.36. 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 (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The firm 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.