Optivise Advisory Services LLC Cuts Stake in Alphabet Inc. $GOOGL

Optivise Advisory Services LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,958 shares of the information services provider’s stock after selling 1,054 shares during the period. Optivise Advisory Services LLC’s holdings in Alphabet were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its holdings in shares of 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 acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% in the 1st 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. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in Alphabet in the 1st quarter valued at $50,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOGL. UBS Group reaffirmed a “neutral” rating and set a $306.00 target price (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Truist Financial upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Piper Sandler restated an “overweight” rating and set a $330.00 target price (up from $285.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, Melius Research increased their price target on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet Stock Down 0.8%

GOOGL stock opened at $276.41 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $292.01. The firm has a market cap of $3.34 trillion, a PE ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The firm’s 50 day moving average price is $257.24 and its 200-day moving average price is $208.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,796 shares of company stock worth $53,983,001 in the last 90 days. Insiders own 11.64% of the company’s stock.

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.