Graham Capital Wealth Management LLC Sells 6,377 Shares of Alphabet Inc. $GOOGL

Graham Capital Wealth Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 60.2% during the second quarter, HoldingsChannel.com reports. The firm owned 4,210 shares of the information services provider’s stock after selling 6,377 shares during the quarter. Graham Capital Wealth Management LLC’s holdings in Alphabet were worth $742,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Smart Money Group LLC raised its position in shares of Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after acquiring an additional 532 shares during the period. United Bank boosted its stake in Alphabet by 2.1% during the 1st quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after acquiring an additional 910 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in Alphabet by 16.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock worth $4,193,000 after acquiring an additional 3,822 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,628 shares of company stock valued at $50,942,622 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL opened at $315.81 on Wednesday. The business’s 50-day moving average price is $271.77 and its two-hundred day moving average price is $221.67. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last posted 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. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Susquehanna upped their target price 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. Piper Sandler reissued an “overweight” rating and issued a $330.00 price target (up previously from $285.00) on shares of Alphabet in a report on Thursday, October 30th. CICC Research upped their price objective on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Tigress Financial lifted their target price on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Finally, Cantor Fitzgerald boosted their target price on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.06.

About Alphabet

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.