Montz Harcus Wealth Management LLC Has $966,000 Stake in Alphabet Inc. $GOOGL

Montz Harcus Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,484 shares of the information services provider’s stock after selling 84 shares during the period. Alphabet makes up about 0.5% of Montz Harcus Wealth Management LLC’s holdings, making the stock its 25th biggest position. Montz Harcus Wealth Management LLC’s holdings in Alphabet were worth $966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOOGL shares. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Morgan Stanley set a $270.00 price target on shares of Alphabet and gave the company an “overweight” rating in a report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.88.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $236.57 on Friday. The business has a 50-day moving average price of $226.31 and a two-hundred day moving average price of $188.49. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the transaction, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is owned by corporate insiders.

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.