Whitaker Myers Wealth Managers LTD. Sells 137 Shares of Alphabet Inc. $GOOGL

Whitaker Myers Wealth Managers LTD. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,281 shares of the information services provider’s stock after selling 137 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Alphabet were worth $402,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of 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 purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the 1st quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Guggenheim increased their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. BMO Capital Markets raised their price objective on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Citigroup restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Sanford C. Bernstein raised their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $221.44.

Alphabet Trading Up 0.2%

Shares of Alphabet stock opened at $240.80 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The firm has a market cap of $2.91 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01. The stock has a fifty day moving average price of $201.89 and a 200-day moving average price of $177.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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, beating 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 firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Alphabet 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.