Alphabet Inc. (NASDAQ:GOOGL) Position Decreased by Xcel Wealth Management LLC

Xcel Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,126 shares of the information services provider’s stock after selling 10,195 shares during the quarter. Alphabet makes up about 4.6% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Xcel Wealth Management LLC’s holdings in Alphabet were worth $15,777,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its position 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 buying an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter worth $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth $30,000. Denver PWM LLC purchased a new position in shares of Alphabet in the 2nd quarter worth $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $171.29 on Friday. Alphabet Inc. has a 52-week low of $126.93 and a 52-week high of $191.75. The stock has a market cap of $2.11 trillion, a PE ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The firm’s 50 day moving average price is $162.43 and its two-hundred day moving average price is $168.91.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business posted $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.85 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,244 shares of company stock worth $37,776,954. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Sanford C. Bernstein raised their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wolfe Research began coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

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.