Anderson Financial Strategies LLC Cuts Stake in Alphabet Inc. $GOOGL

Anderson Financial Strategies LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200 shares of the information services provider’s stock after selling 61 shares during the quarter. Anderson Financial Strategies LLC’s holdings in Alphabet were worth $31,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first 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 period. von Borstel & Associates Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the 1st 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 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $239.17 on Thursday. Alphabet Inc. has a one year low of $140.53 and a one year high of $241.66. The business has a fifty day moving average of $199.43 and a 200 day moving average of $176.61. 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 market capitalization of $2.89 trillion, a P/E ratio of 25.47, a PEG ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced 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 return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. As a group, sell-side 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, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was 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 of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOGL shares. DA Davidson increased their price objective on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Citigroup restated an “outperform” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. KeyCorp raised their price target on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Wedbush upped their price objective on shares of Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $221.44.

About Alphabet

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.