Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,753 shares of the information services provider’s stock after selling 1,112 shares during the period. Alphabet makes up approximately 3.4% of Peloton Wealth Strategists’ portfolio, making the stock its biggest position. Peloton Wealth Strategists’ holdings in Alphabet were worth $8,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% in 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 period. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 217,592 shares of company stock valued at $35,922,911. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.9 %

GOOGL opened at $164.38 on Wednesday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a market cap of $2.03 trillion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. 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 50 day moving average of $161.93 and a 200 day moving average of $167.52.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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 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 analyst estimates of $70.60 billion. During the same period last year, the company earned $1.44 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared 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 is presently 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Evercore ISI decreased their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Morgan Stanley dropped their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Argus upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.14.

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.