Bartlett & CO. Wealth Management LLC Lowers Position in Alphabet Inc. $GOOGL

Bartlett & CO. Wealth Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 444,740 shares of the information services provider’s stock after selling 4,863 shares during the quarter. Alphabet accounts for approximately 1.1% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Bartlett & CO. Wealth Management LLC’s holdings in Alphabet were worth $78,377,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was 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 in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on 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 owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is owned by insiders.

Alphabet Trading Down 1.9%

NASDAQ GOOGL opened at $245.76 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.69 and a beta of 1.00. The stock’s 50 day moving average is $223.41 and its 200 day moving average is $187.13.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOGL. BNP Paribas Exane restated a “neutral” rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Loop Capital restated a “hold” rating and set a $190.00 price target (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their price target on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Oppenheimer restated an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Finally, Canaccord Genuity Group raised their price target on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Four investment 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.98.

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.