Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Invera Wealth Advisors LLC

Invera Wealth Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,937 shares of the information services provider’s stock after selling 940 shares during the quarter. Alphabet accounts for approximately 5.5% of Invera Wealth Advisors LLC’s portfolio, making the stock its 4th largest holding. Invera Wealth Advisors LLC’s holdings in Alphabet were worth $5,370,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at about $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $36,000. Finally, Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $41,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. Evercore ISI dropped their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Loop Capital reiterated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Cantor Fitzgerald initiated coverage on Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Monday, September 16th. Finally, Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’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 transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the 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 sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,167 shares of company stock worth $29,762,606. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $163.59 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04. The stock’s 50-day moving average is $164.72 and its two-hundred day moving average is $165.79. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 EPS. Analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 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.