Alphabet Inc. $GOOGL Shares Sold by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% during the third quarter, Holdings Channel.com reports. The firm owned 71,640 shares of the information services provider’s stock after selling 3,192 shares during the period. Alphabet makes up 2.2% of Stockman Wealth Management Inc.’s holdings, making the stock its 14th biggest holding. Stockman Wealth Management Inc.’s holdings in Alphabet were worth $17,416,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOGL. Financial Gravity Companies Inc. acquired a new position in Alphabet in the second quarter valued at about $31,000. Corsicana & Co. purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $54,000. CarsonAllaria Wealth Management Ltd. lifted its holdings 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 worth $44,000 after acquiring an additional 67 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after acquiring an additional 89 shares during the last quarter. Finally, S&T Bank PA boosted its position in shares of 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 purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. DA Davidson reiterated a “neutral” rating and issued a $300.00 price objective on shares of Alphabet in a report on Tuesday, November 25th. CIBC increased their target price on Alphabet to $315.00 in a research note on Monday, October 20th. Oppenheimer lifted their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $317.76.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the sale, the chief accounting officer directly owned 8,962 shares in the company, valued at $2,798,832.60. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $313.45, for a total value of $31,971.90. Following the sale, the director directly owned 18,205 shares of the company’s stock, valued at $5,706,357.25. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 192,687 shares of company stock worth $56,255,711. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $315.15 on Friday. The business’s 50-day moving average is $301.53 and its two-hundred day moving average is $243.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $3.80 trillion, a P/E ratio of 31.08, a P/E/G ratio of 1.73 and a beta of 1.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share 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 analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Alphabet Profile

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.