Clay Northam Wealth Management LLC Sells 274 Shares of Alphabet Inc. $GOOGL

Clay Northam Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,108 shares of the information services provider’s stock after selling 274 shares during the period. Clay Northam Wealth Management LLC’s holdings in Alphabet were worth $724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% during 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 purchasing an additional 506 shares in the last quarter. Rhumbline Advisers raised its position in Alphabet by 0.8% during the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock valued at $1,742,444,000 after purchasing an additional 86,670 shares in the last quarter. Apella Capital LLC raised its position in Alphabet by 50.6% during the 1st quarter. Apella Capital LLC now owns 12,820 shares of the information services provider’s stock valued at $2,035,000 after purchasing an additional 4,305 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Alphabet by 1,567.1% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,417 shares of the information services provider’s stock valued at $219,000 after purchasing an additional 1,332 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 in the last ninety days. 11.64% of the stock is owned by insiders.

Alphabet Stock Up 0.3%

Shares of GOOGL stock opened at $245.69 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The stock’s fifty day moving average price is $220.21 and its 200 day moving average price is $185.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOGL shares. JMP Securities lifted their target price on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Royal Bank Of Canada lifted their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. 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. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Morgan Stanley set a $270.00 price target on Alphabet and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.76.

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.