Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Trimmed by Novare Capital Management LLC

Novare Capital Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,037 shares of the information services provider’s stock after selling 8,861 shares during the period. Alphabet makes up about 2.9% of Novare Capital Management LLC’s holdings, making the stock its 5th biggest holding. Novare Capital Management LLC’s holdings in Alphabet were worth $32,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc increased its stake in 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 acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Truist Financial reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Monday. TD Securities increased their price target on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. UBS Group boosted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Finally, Tigress Financial raised their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $158.06 on Tuesday. 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’s 50-day moving average price is $166.84 and its two-hundred day moving average price is $165.01. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the business posted $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,167 shares of company stock worth $30,139,931. Insiders own 11.55% of the company’s stock.

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.