BW Gestao de Investimentos Ltda. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

BW Gestao de Investimentos Ltda. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,736 shares of the information services provider’s stock after selling 4,857 shares during the period. BW Gestao de Investimentos Ltda.’s holdings in Alphabet were worth $4,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at $36,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOGL shares. Royal Bank of Canada upped 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. Cantor Fitzgerald assumed coverage on Alphabet in a research report on Thursday, September 5th. They set a “neutral” rating and a $190.00 price target on the stock. Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Tigress Financial increased their price target on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 24th. Eight 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 179,367 shares of company stock valued at $30,016,931 over the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.8 %

Shares of GOOGL opened at $157.46 on Friday. 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 Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock’s 50 day moving average is $167.46 and its two-hundred day moving average is $164.67. The firm has a market cap of $1.94 trillion, a P/E ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 earnings per share. Analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.