Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Amplius Wealth Advisors LLC

VaselineAugust 29, 2024

0 4 minutes read

Amplius Wealth Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,327 shares of the information services provider’s stock after selling 1,054 shares during the period. Amplius Wealth Advisors LLC’s holdings in Alphabet were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new position in Alphabet in the 4th quarter valued at $15,441,917,000. Capital Research Global Investors boosted its stake in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. raised its stake in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, PineStone Asset Management Inc. raised its stake in shares of Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after buying an additional 4,170,229 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s shares.

Analyst upgrades and downgrades

A number of research firms have weighed in on GOOGL. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Truist Financial lifted their price objective on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Mizuho raised their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Morgan Stanley raised their price objective on Alphabet from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.74, based on data from MarketBeat.

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Alphabet trading down 0.9%

Shares of Alphabet opened at $164.68 on Wednesday. The stock has a market cap of $2.04 trillion, a P/E ratio of 25.26, a P/E/G ratio of 1.28 and a beta of 1.05. The stock’s 50-day simple moving average is $174.51 and its 200-day simple moving average is $163.44. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm posted EPS of $1.44. Analysts predict that Alphabet Inc. will record 7.62 EPS for the current fiscal year.

Alphabetical announcement of dividends

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9. Alphabet’s payout ratio is currently 12.27%.

Indoor activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,565 shares of company stock worth $26,823,893. 11.55% of shares are currently owned by company insiders.

Alphabet Company Profile

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.