FSC Wealth Advisors LLC Sells 300 Shares of Alphabet Inc. $GOOGL

FSC Wealth Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,960 shares of the information services provider’s stock after selling 300 shares during the period. FSC Wealth Advisors LLC’s holdings in Alphabet were worth $345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of Alphabet in the 1st quarter worth about $4,317,606,000. Vanguard Group Inc. grew its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 3.1% in the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after buying an additional 4,224,497 shares during the period. Finally, Amundi boosted its holdings in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. BNP Paribas Exane started coverage on shares of Alphabet in a report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research report on Wednesday, October 22nd. BNP Paribas started coverage on Alphabet in a research note on Monday, November 24th. They set an “outperform” rating and a $355.00 price target on the stock. Finally, Susquehanna boosted their price target on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 225,072 shares of company stock valued at $58,074,027. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.0%

NASDAQ:GOOGL opened at $320.02 on Monday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $269.25 and its 200 day moving average is $219.56. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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, beating 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 firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

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.