Focused Wealth Management Inc Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Focused Wealth Management Inc cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,887 shares of the information services provider’s stock after selling 584 shares during the period. Alphabet comprises approximately 0.8% of Focused Wealth Management Inc’s portfolio, making the stock its 24th biggest holding. Focused Wealth Management Inc’s holdings in Alphabet were worth $5,620,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth about $41,000. Quarry LP purchased a new stake in Alphabet during the second quarter valued at about $53,000. Finally, Summit Securities Group LLC purchased a new position in shares of Alphabet in the second quarter worth about $55,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $175.30 on Tuesday. The firm’s 50-day simple moving average is $166.15 and its two-hundred day simple moving average is $170.28. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a market cap of $2.15 trillion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. Mizuho lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. UBS Group upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.