Athena Investment Management Sells 139 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Athena Investment Management decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,262 shares of the information services provider’s stock after selling 139 shares during the quarter. Athena Investment Management’s holdings in Alphabet were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOGL. Studio Investment Management LLC lifted its holdings in Alphabet by 1.2% in the second quarter. Studio Investment Management LLC now owns 54,561 shares of the information services provider’s stock valued at $9,938,000 after buying an additional 673 shares during the period. Blue Square Asset Management LLC lifted its holdings in Alphabet by 17.2% in the second quarter. Blue Square Asset Management LLC now owns 22,402 shares of the information services provider’s stock valued at $4,081,000 after buying an additional 3,281 shares during the period. Vaughan David Investments LLC IL lifted its holdings in Alphabet by 25.3% in the second quarter. Vaughan David Investments LLC IL now owns 6,258 shares of the information services provider’s stock valued at $1,140,000 after buying an additional 1,263 shares during the period. Angeles Wealth Management LLC lifted its holdings in Alphabet by 21.4% in the second quarter. Angeles Wealth Management LLC now owns 27,905 shares of the information services provider’s stock valued at $5,083,000 after buying an additional 4,911 shares during the period. Finally, Morling Financial Advisors LLC lifted its holdings in Alphabet by 101.2% in the second quarter. Morling Financial Advisors LLC now owns 1,141 shares of the information services provider’s stock valued at $208,000 after buying an additional 574 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOGL shares. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Royal Bank of Canada upped their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Piper Sandler dropped their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Truist Financial reiterated a “buy” rating and set a $196.00 price objective on shares of Alphabet in a report on Monday, September 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Eight research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 180,867 shares of company stock worth $29,878,106 in the last 90 days. 11.55% of the stock is owned by company insiders.

Alphabet Stock Up 0.3 %

GOOGL opened at $162.29 on Wednesday. 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 company has a market cap of $2.01 trillion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50 day moving average of $163.80 and a 200 day moving average of $166.17.

Alphabet (NASDAQ:GOOGL) last posted 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 for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company posted $1.44 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

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