Townsend Asset Management Corp NC ADV Sells 1,145 Shares of Alphabet Inc. $GOOGL

Townsend Asset Management Corp NC ADV trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,543 shares of the information services provider’s stock after selling 1,145 shares during the quarter. Alphabet accounts for 1.7% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 16th biggest holding. Townsend Asset Management Corp NC ADV’s holdings in Alphabet were worth $4,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during 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 in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the first quarter valued at $39,000. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was 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 directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,285 shares of company stock worth $50,994,787. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GOOGL shares. Barclays upped their price objective on Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. DA Davidson upped their price objective on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Guggenheim upped their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Melius Research upped their price objective on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Finally, BNP Paribas Exane reiterated a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.10.

Alphabet Stock Performance

NASDAQ GOOGL opened at $244.90 on Thursday. The firm has a market cap of $2.96 trillion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $219.14 and a 200-day moving average price of $184.66. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

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.