Trace Wealth Advisors LLC Sells 2,381 Shares of Alphabet Inc. $GOOGL

Trace Wealth Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 72.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 893 shares of the information services provider’s stock after selling 2,381 shares during the quarter. Trace Wealth Advisors LLC’s holdings in Alphabet were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. EMC Capital Management purchased a new stake in shares of Alphabet in the second quarter valued at about $35,000. Core Capital Management & Research inc. acquired a new stake in Alphabet during the second quarter worth about $41,000. Intelligent Financial Strategies acquired a new stake in Alphabet during the third quarter worth about $41,000. Premier Financial Group purchased a new position in Alphabet during the second quarter worth about $45,000. Finally, Van Den Berg Management I Inc. raised its stake in Alphabet by 319.6% during the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider’s stock worth $61,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director owned 19,076 shares in the company, valued at $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 247 shares of company stock valued at $79,238. Company insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. Truist Financial decreased their target price on shares of Alphabet from $420.00 to $410.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Benchmark restated a “buy” rating on shares of Alphabet in a report on Thursday, October 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $375.00 price target (down from $400.00) on shares of Alphabet in a research report on Thursday, October 29th. Susquehanna decreased their price objective on Alphabet from $460.00 to $400.00 and set a “positive” rating on the stock in a report on Thursday, October 29th. Finally, Royal Bank Of Canada decreased their price objective on Alphabet from $425.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $412.51.

Alphabet Price Performance

GOOGL stock opened at $298.70 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.67 trillion, a PE ratio of 15.59, a P/E/G ratio of 0.88 and a beta of 1.23. Alphabet Inc. has a 12-month low of $270.70 and a 12-month high of $408.61. The business’s fifty day moving average price is $329.12 and its 200 day moving average price is $338.21.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). The firm had revenue of $127.58 billion for the quarter, compared to analyst estimates of $127.96 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. On average, sell-side analysts anticipate that Alphabet Inc. will post 19.81 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is currently 4.59%.

Alphabet News Summary

These are some of the GOOGL news items that stood out recently:

• Positive Sentiment: Nvidia CEO Jensen Huang’s reported departure has put a spotlight on alternatives to Nvidia. Alphabet’s expanding TPU business could help it compete for AI workloads and gain market share, while its Google Cloud infrastructure also uses AMD processors. Why Alphabet Stock Was Moving Higher Today
• Negative Sentiment: Investors remain concerned that heavy AI data-center spending could weigh on cash flow, even as the underlying cloud and advertising businesses remain attractive. This could limit near-term enthusiasm if returns on the investment take time to materialize. Alphabet: Punished For Its Cash Flow, Not Its Business
• Negative Sentiment: A lawsuit against Google and other AI developers seeks to halt frontier AI development, creating potential regulatory and operational uncertainty. Separately, securities class actions allege investors were misled about Gemini development and disclosures; the allegations are not proven, but add legal overhang. Lawsuit Seeks to Halt Frontier AI Development

Alphabet Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.