Crumly & Associates Inc. Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Crumly & Associates Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,631 shares of the information services provider’s stock after selling 103 shares during the quarter. Crumly & Associates Inc.’s holdings in Alphabet were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its stake in Alphabet by 91.0% in the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after acquiring an additional 3,777,527 shares during the last quarter. SouthState Corp boosted its stake in Alphabet by 0.7% in the second quarter. SouthState Corp now owns 65,491 shares of the information services provider’s stock valued at $11,929,000 after acquiring an additional 482 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in Alphabet by 34.5% in the second quarter. Hohimer Wealth Management LLC now owns 35,046 shares of the information services provider’s stock valued at $6,371,000 after acquiring an additional 8,995 shares during the last quarter. First Dallas Securities Inc. boosted its stake in Alphabet by 13.0% in the second quarter. First Dallas Securities Inc. now owns 3,487 shares of the information services provider’s stock valued at $635,000 after acquiring an additional 402 shares during the last quarter. Finally, Chase Investment Counsel Corp boosted its stake in Alphabet by 112.9% in the second quarter. Chase Investment Counsel Corp now owns 59,828 shares of the information services provider’s stock valued at $10,262,000 after acquiring an additional 31,726 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, 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 sold a total of 180,167 shares of company stock worth $29,762,606 in the last three months. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Tigress Financial boosted their price target on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Truist Financial reissued a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Monday. Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Trading Up 0.3 %

NASDAQ:GOOGL opened at $159.81 on Thursday. The company has a 50-day moving average price of $165.62 and a 200-day moving average price of $165.13. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 24.51, a P/E/G 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 the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the business earned $1.44 EPS. Equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s 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.