McAdam LLC Decreases Stock Holdings in Alphabet Inc. $GOOGL

McAdam LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,205 shares of the information services provider’s stock after selling 371 shares during the period. McAdam LLC’s holdings in Alphabet were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter valued at $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter valued at $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock worth $49,208,380. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $239.18 on Wednesday. The firm has a 50-day moving average price of $198.22 and a 200-day moving average price of $176.17. The firm has a market capitalization of $2.89 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $240.47.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOGL shares. Guggenheim raised their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Canaccord Genuity Group raised their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Morgan Stanley increased their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Finally, Bank of America increased their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $221.44.

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.