Premier Path Wealth Partners LLC Decreases Stock Position in Alphabet Inc. $GOOGL

Premier Path Wealth Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,633 shares of the information services provider’s stock after selling 1,100 shares during the period. Alphabet makes up about 1.1% of Premier Path Wealth Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Premier Path Wealth Partners LLC’s holdings in Alphabet were worth $7,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Brighton Jones LLC boosted its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Smart Money Group LLC grew its position in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares during the period. Heritage Wealth Management Inc. grew its position in Alphabet by 8.6% in the 1st quarter. Heritage Wealth Management Inc. now owns 10,695 shares of the information services provider’s stock worth $1,654,000 after purchasing an additional 845 shares during the period. Finally, Apex Wealth Management LLC raised its stake in Alphabet by 8.6% during the 1st quarter. Apex Wealth Management LLC now owns 3,966 shares of the information services provider’s stock valued at $613,000 after buying an additional 315 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $290.10 on Tuesday. The company has a market capitalization of $3.51 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The firm’s 50 day simple moving average is $252.77 and its two-hundred day simple moving average is $205.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% 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 Frances Arnold sold 112 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 222,396 shares of company stock valued at $54,105,275. 11.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. Stifel Nicolaus set a $333.00 price target on Alphabet in a research note on Thursday, October 30th. Oppenheimer raised their target price on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Needham & Company LLC upped their price target on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Bank of America boosted their target price on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $304.10.

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.