NWF Advisory Services Inc. Sells 6,121 Shares of Alphabet Inc. $GOOGL

NWF Advisory Services Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 32.4% in the third quarter, Holdings Channel.com reports. The fund owned 12,747 shares of the information services provider’s stock after selling 6,121 shares during the quarter. NWF Advisory Services Inc.’s holdings in Alphabet were worth $3,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet in the second quarter worth about $31,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of 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 period. Corsicana & Co. acquired a new position in shares of Alphabet in the 3rd quarter valued at approximately $54,000. Vermillion & White Wealth Management Group LLC increased its stake in Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares in the last quarter. Finally, S&T Bank PA raised its holdings in Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after buying an additional 99 shares during the period. Institutional investors own 40.03% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOGL shares. Raymond James Financial raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Canadian Imperial Bank of Commerce lifted their price target on Alphabet to $315.00 in a research note on Monday, October 20th. Wolfe Research boosted their price target on Alphabet from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Rosenblatt Securities increased their price objective on Alphabet from $279.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their target price on Alphabet from $375.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $357.46.

Get Our Latest Stock Report on GOOGL

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $337.52, for a total value of $202,512.00. Following the sale, the director owned 21,224 shares of the company’s stock, valued at approximately $7,163,524.48. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $340.00, for a total value of $34,680.00. Following the transaction, the director directly owned 18,307 shares of the company’s stock, valued at approximately $6,224,380. The trade was a 0.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,067,686 shares of company stock worth $105,352,291. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 0.5%

GOOGL stock opened at $324.32 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.91 trillion, a PE ratio of 30.00, a PEG ratio of 1.78 and a beta of 1.09. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $349.00. The business’s 50 day simple moving average is $321.80 and its 200 day simple moving average is $272.22.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The business had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is currently 7.77%.

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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