Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 808,105 shares of the information services provider’s stock after selling 85,941 shares during the quarter. Alphabet makes up 1.3% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Great Lakes Advisors LLC’s holdings in Alphabet were worth $147,196,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC increased its position in 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 in the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC boosted its holdings in shares of Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after purchasing an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its holdings in shares of Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.9 %

Shares of Alphabet stock opened at $163.59 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The business has a 50-day moving average price of $164.72 and a 200 day moving average price of $165.32.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during 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 earned $1.44 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of 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 SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, 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 valued at $29,762,606 over the last three months. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Monday, September 16th. Finally, Truist Financial reiterated a “buy” rating and issued a $196.00 target price on shares of Alphabet in a report on Monday, September 16th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $201.08.

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.