Walkner Condon Financial Advisors LLC Reduces Stock Holdings in Alphabet Inc. $GOOGL

Walkner Condon Financial Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,059 shares of the information services provider’s stock after selling 924 shares during the period. Walkner Condon Financial Advisors LLC’s holdings in Alphabet were worth $3,359,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GOOGL. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Smart Money Group LLC lifted its stake in shares of Alphabet by 9.4% in the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after acquiring an additional 532 shares in the last quarter. ESG Planning DBA Harper Investing boosted its holdings in Alphabet by 29.2% in the first quarter. ESG Planning DBA Harper Investing now owns 23,365 shares of the information services provider’s stock valued at $3,613,000 after purchasing an additional 5,277 shares during the last quarter. Finally, Sage Private Wealth Group LLC boosted its holdings in Alphabet by 2.7% in the first quarter. Sage Private Wealth Group LLC now owns 3,808 shares of the information services provider’s stock valued at $589,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $292.81 on Thursday. The company has a market cap of $3.53 trillion, a PE ratio of 28.88, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $303.81. The firm has a 50-day simple moving average of $260.23 and a 200 day simple moving average of $211.57. 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 (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for 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, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business 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. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Citic Securities lifted their price objective on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Piper Sandler reissued an “overweight” rating and set a $330.00 price target (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Westpark Capital lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Moffett Nathanson increased their price objective on shares of Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned 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 $305.33.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 192,674 shares of company stock worth $48,454,423 in the last three months. 11.64% of the stock is owned by insiders.

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.