U.S. Capital Wealth Advisors LLC Reduces Position in Alphabet Inc. $GOOG

U.S. Capital Wealth Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,703 shares of the information services provider’s stock after selling 8,986 shares during the quarter. Alphabet makes up about 0.7% of U.S. Capital Wealth Advisors LLC’s portfolio, making the stock its 26th biggest position. U.S. Capital Wealth Advisors LLC’s holdings in Alphabet were worth $24,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in Alphabet in the 1st quarter worth about $2,622,943,000. GAMMA Investing LLC increased its position in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares during the period. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on 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 transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock valued at $52,405,304 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.9%

Shares of Alphabet stock opened at $252.88 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a fifty day moving average price of $211.48 and a 200 day moving average price of $182.24. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The stock has a market cap of $3.06 trillion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOG. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Pivotal Research boosted their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $230.35.

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.