Xcel Wealth Management LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Xcel Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,126 shares of the information services provider’s stock after selling 10,195 shares during the quarter. Alphabet comprises approximately 4.6% of Xcel Wealth Management LLC’s portfolio, making the stock its 4th biggest holding. Xcel Wealth Management LLC’s holdings in Alphabet were worth $15,777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc boosted its position 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 acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC bought a new stake in Alphabet in the 1st quarter worth approximately $30,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at $41,000. Finally, Quarry LP bought a new position in Alphabet in the 2nd quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GOOGL shares. Argus boosted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. KeyCorp increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Mizuho increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Up 0.1 %

Alphabet stock opened at $171.29 on Friday. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The company has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. The stock has a 50-day simple moving average of $162.43 and a 200-day simple moving average of $168.91.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 7.85 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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 dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,244 shares of company stock valued at $37,776,954 in the last ninety days. Insiders own 11.55% of the company’s stock.

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.