Acima Private Wealth LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Acima Private Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 42.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,240 shares of the information services provider’s stock after selling 1,640 shares during the quarter. Acima Private Wealth LLC’s holdings in Alphabet were worth $346,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Truist Financial reissued a “buy” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Cantor Fitzgerald boosted their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Needham & Company LLC lifted their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Guggenheim lifted their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Sanford C. Bernstein boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.53.

Alphabet Trading Down 0.2%

Shares of NASDAQ GOOGL opened at $201.00 on Tuesday. The stock has a market cap of $2.43 trillion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.36 and a beta of 1.01. The business has a 50 day simple moving average of $181.53 and a 200 day simple moving average of $172.81. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,219 shares of company stock worth $49,674,273. 11.55% of the stock is owned by corporate insiders.

Alphabet Company 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.