Blodgett Wealth Advisors LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Blodgett Wealth Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,813 shares of the information services provider’s stock after selling 2,192 shares during the period. Alphabet makes up approximately 6.0% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Blodgett Wealth Advisors LLC’s holdings in Alphabet were worth $7,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter valued at about $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter valued at about $30,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter valued at about $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock worth $37,776,954 over the last three months. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Argus upped their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group dropped their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. JMP Securities upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

View Our Latest Report on Alphabet

Alphabet Stock Up 0.1 %

NASDAQ GOOGL opened at $171.29 on Friday. The business has a fifty day moving average price of $162.43 and a two-hundred day moving average price of $169.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.11 trillion, a PE ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the company earned $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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