Flagship Wealth Advisors LLC Trims Position in Alphabet Inc. $GOOGL

Flagship Wealth Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 33.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,458 shares of the information services provider’s stock after selling 1,748 shares during the quarter. Flagship Wealth Advisors LLC’s holdings in Alphabet were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Alphabet in the fourth quarter worth about $30,534,239,000. Cardano Risk Management B.V. boosted its position in Alphabet by 855.3% during the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after acquiring an additional 13,004,828 shares in the last quarter. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. Capital World Investors grew its holdings in shares of Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares during the period. Finally, Diamant Asset Management Inc. grew its holdings in shares of Alphabet by 28,950.0% during the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock worth $2,671,986,000 after acquiring an additional 9,259,940 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $354.30 on Friday. Alphabet Inc. has a twelve month low of $196.60 and a twelve month high of $408.61. The firm has a market cap of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 0.99 and a beta of 1.24. The company has a 50 day moving average of $355.68 and a 200 day moving average of $340.41. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. As a group, research analysts expect that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio is presently 4.42%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This represents a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 600,547 shares of company stock valued at $16,255,540. 11.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research note on Monday, June 22nd. CICC Research upped their price target on Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Wells Fargo & Company set a $411.00 target price on shares of Alphabet and gave the company an “overweight” rating in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $419.86.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.