Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Vantage Financial Partners LLC

Vantage Financial Partners LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,962 shares of the information services provider’s stock after selling 186 shares during the quarter. Vantage Financial Partners LLC’s holdings in Alphabet were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in shares of 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 buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $30,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet during the second quarter valued at about $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock worth $29,878,106 in the last quarter. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on GOOGL shares. Argus raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Piper Sandler lowered their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley decreased their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

Alphabet stock opened at $162.29 on Wednesday. The company has a market cap of $2.01 trillion, a PE ratio of 24.89, a PEG ratio of 1.13 and a beta of 1.04. The company’s 50-day moving average is $163.80 and its two-hundred day moving average is $166.17. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued 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. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations 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 earned $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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 was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 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.