Wealth Architects LLC Sells 84 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wealth Architects LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the third quarter, Holdings Channel.com reports. The firm owned 13,017 shares of the information services provider’s stock after selling 84 shares during the period. Wealth Architects LLC’s holdings in Alphabet were worth $2,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter worth about $41,000. Quarry LP bought a new position in Alphabet in the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet during the second quarter valued at $55,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock worth $30,698,791 in the last three months. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOOGL shares. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Up 1.6 %

GOOGL stock opened at $178.12 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 23.62, a P/E/G ratio of 1.23 and a beta of 1.03. The business has a fifty day moving average price of $166.74 and a 200-day moving average price of $170.36.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company posted $1.55 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 10.61%.

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.