Checchi Capital Advisers LLC Sells 134 Shares of Alphabet Inc. $GOOGL

by · The Markets Daily

Checchi Capital Advisers LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,103 shares of the information services provider’s stock after selling 134 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Alphabet were worth $8,653,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after acquiring an additional 9,900 shares in the last quarter. Smithbridge Asset Management Inc. DE bought a new stake in Alphabet in the first quarter worth $6,746,000. Finally, Lynch Asset Management Inc. raised its stake in shares of Alphabet by 0.4% in the first quarter. Lynch Asset Management Inc. now owns 71,000 shares of the information services provider’s stock worth $10,979,000 after purchasing an additional 250 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 2.1%

Alphabet stock opened at $236.57 on Monday. The stock has a market cap of $2.86 trillion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. 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 Inc. has a one year low of $140.53 and a one year high of $256.00. The stock has a fifty day moving average of $226.31 and a 200 day moving average of $188.84.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Susquehanna boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Melius Research boosted their price target on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Mizuho set a $295.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, Guggenheim boosted their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $245.88.

Read Our Latest Stock Analysis on Alphabet

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock valued at $59,062,683 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Profile

(Free Report)

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.

See Also

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