Thrive Wealth Management LLC Sells 705 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Thrive Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,404 shares of the information services provider’s stock after selling 705 shares during the period. Thrive Wealth Management LLC’s holdings in Alphabet were worth $2,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% during the 2nd 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 during the period. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $163.24 on Monday. 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 12-month low of $120.21 and a 12-month high of $191.75. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm has a 50 day moving average of $161.37 and a 200 day moving average of $167.86.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. Evercore ISI cut their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Mizuho increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Citigroup increased their price objective on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets reduced their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $200.95.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. 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 available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s 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 $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is owned by company 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.