Stiles Financial Services Inc Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Stiles Financial Services Inc reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,135 shares of the information services provider’s stock after selling 2,226 shares during the period. Alphabet makes up approximately 2.0% of Stiles Financial Services Inc’s holdings, making the stock its 9th largest holding. Stiles Financial Services Inc’s holdings in Alphabet were worth $5,127,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Norges Bank bought a new position in Alphabet during the 4th quarter worth about $15,441,917,000. Capital Research Global Investors increased its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Alphabet by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Loop Capital restated a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Piper Sandler reduced their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and set a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Finally, UBS Group lifted their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.76.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,367 shares of company stock worth $30,016,931. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.8 %

Shares of GOOGL stock opened at $157.46 on Friday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a fifty day moving average of $167.46 and a 200-day moving average of $164.67.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. 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.