Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lessened by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,523 shares of the information services provider’s stock after selling 26,770 shares during the quarter. Alphabet comprises 4.4% of Bulltick Wealth Management LLC’s holdings, making the stock its biggest position. Bulltick Wealth Management LLC’s holdings in Alphabet were worth $17,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Nebula Research & Development LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $787,000. New Hampshire Trust raised its holdings in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new position in shares of Alphabet in the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP lifted its stake in shares of Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares during the period. Finally, American International Group Inc. grew its holdings in shares of Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after buying an additional 200,891 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of GOOGL opened at $167.06 on Friday. The firm’s fifty day moving average is $162.06 and its two-hundred day moving average is $167.14. The stock has a market cap of $2.06 trillion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during 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 firm earned $1.44 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday. Bank of America raised their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Tigress Financial upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The shares were 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 of the company’s stock, valued at $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on 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 directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,592 shares of company stock valued at $35,922,911. 11.55% of the stock is currently owned by insiders.

About Alphabet

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.