Guardian Partners Inc. Sells 205 Shares of Alphabet Inc. $GOOG
by Tristan Rich · The Markets DailyGuardian Partners Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,460 shares of the information services provider’s stock after selling 205 shares during the quarter. Guardian Partners Inc.’s holdings in Alphabet were worth $1,965,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet in the first quarter worth approximately $34,000. Institutional investors own 27.26% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on GOOG shares. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. UBS Group raised their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $227.56.
Read Our Latest Analysis on Alphabet
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $49,208,380 in the last three months. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Performance
NASDAQ GOOG opened at $235.17 on Monday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $236.13. The company has a 50-day simple moving average of $196.65 and a 200 day simple moving average of $176.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.84 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The company also recently disclosed 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 is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.
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.
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