GWN Securities Inc. Has $1.38 Million Position in Alphabet Inc. $GOOGL

GWN Securities Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 90.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,827 shares of the information services provider’s stock after selling 70,124 shares during the quarter. GWN Securities Inc.’s holdings in Alphabet were worth $1,382,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,396 shares of company stock worth $54,105,275 over the last quarter. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOGL shares. President Capital boosted their price objective on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up from $285.00) on shares of Alphabet in a report on Thursday, October 30th. Wells Fargo & Company raised their price objective on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Moffett Nathanson boosted their target price on shares of Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Oppenheimer upped their target price on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Down 2.1%

GOOGL opened at $278.83 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. 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’s fifty day moving average price is $251.23 and its two-hundred day moving average price is $204.19. The company has a market capitalization of $3.37 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05.

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, beating analysts’ consensus estimates of $2.29 by $0.58. The company 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%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

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.