Tempus Wealth Planning LLC Sells 666 Shares of Alphabet Inc. $GOOGL

Tempus Wealth Planning LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the second quarter, HoldingsChannel reports. The firm owned 14,814 shares of the information services provider’s stock after selling 666 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Alphabet were worth $2,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. SeaBridge Investment Advisors LLC grew its stake in shares of Alphabet by 2.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 54,753 shares of the information services provider’s stock valued at $9,649,000 after purchasing an additional 1,291 shares during the period. LVW Advisors LLC grew its stake in shares of Alphabet by 12.5% during the 2nd quarter. LVW Advisors LLC now owns 32,163 shares of the information services provider’s stock valued at $5,668,000 after acquiring an additional 3,581 shares during the period. TOWER TRUST & INVESTMENT Co grew its stake in shares of Alphabet by 1.8% during the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 14,259 shares of the information services provider’s stock valued at $2,513,000 after acquiring an additional 248 shares during the period. Spirepoint Private Client LLC grew its stake in shares of Alphabet by 0.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 87,294 shares of the information services provider’s stock valued at $15,384,000 after acquiring an additional 631 shares during the period. Finally, Independent Wealth Network Inc. grew its stake in shares of Alphabet by 21.9% during the 2nd quarter. Independent Wealth Network Inc. now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 498 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial boosted their price objective on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Roth Capital boosted their price objective on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler boosted their price objective on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. JMP Securities boosted their price objective on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research note on Friday, September 19th. Finally, DA Davidson boosted their price objective on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Four 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. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $240.76.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.3%

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 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 capitalization of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.65 and a beta of 1.00. The business has a 50 day simple moving average of $220.21 and a two-hundred day simple moving average of $185.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. 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.