B. Riley Wealth Advisors Inc. Sells 28,038 Shares of Alphabet Inc. (NASDAQ:GOOGL)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,397 shares of the information services provider’s stock after selling 28,038 shares during the quarter. Alphabet comprises approximately 0.8% of B. Riley Wealth Advisors Inc.’s portfolio, making the stock its 15th biggest holding. B. Riley Wealth Advisors Inc.’s holdings in Alphabet were worth $28,261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at about $32,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter worth about $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in Alphabet during the second quarter valued at approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock worth $31,358,687 over the last 90 days. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Roth Mkm increased their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, JMP Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Trading Up 0.1 %

NASDAQ GOOGL opened at $188.51 on Friday. The stock has a market cap of $2.31 trillion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The stock has a 50 day simple moving average of $173.99 and a two-hundred day simple moving average of $171.21. 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 announced its quarterly earnings results 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. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm posted $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

About Alphabet

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.