Alphabet Inc. $GOOGL Position Increased by Wrapmanager Inc.

Wrapmanager Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,186 shares of the information services provider’s stock after buying an additional 312 shares during the quarter. Alphabet comprises approximately 0.9% of Wrapmanager Inc.’s holdings, making the stock its 26th largest position. Wrapmanager Inc.’s holdings in Alphabet were worth $3,557,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Tiff Advisory Services LLC lifted its position in Alphabet by 7.6% in the 2nd quarter. Tiff Advisory Services LLC now owns 16,236 shares of the information services provider’s stock valued at $2,861,000 after purchasing an additional 1,151 shares during the last quarter. Jacksonville Wealth Management LLC increased its stake in shares of Alphabet by 16.6% in the second quarter. Jacksonville Wealth Management LLC now owns 2,180 shares of the information services provider’s stock valued at $384,000 after purchasing an additional 310 shares during the period. RAM Investment Partners LLC increased its stake in shares of Alphabet by 4.7% in the second quarter. RAM Investment Partners LLC now owns 9,590 shares of the information services provider’s stock valued at $1,690,000 after purchasing an additional 433 shares during the period. Advisors Capital Management LLC raised its holdings in shares of Alphabet by 3.7% during the second quarter. Advisors Capital Management LLC now owns 413,701 shares of the information services provider’s stock valued at $72,907,000 after buying an additional 14,816 shares during the last quarter. Finally, L & S Advisors Inc increased its position in Alphabet by 2.9% in the 2nd quarter. L & S Advisors Inc now owns 57,708 shares of the information services provider’s stock valued at $10,170,000 after acquiring an additional 1,628 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Tigress Financial boosted their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. BNP Paribas Exane initiated coverage on shares of Alphabet in a report on Monday. They issued an “outperform” rating and a $355.00 price objective for the company. Melius Research increased their target price on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Finally, Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.84.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $319.95 on Thursday. The company has a 50-day moving average of $266.58 and a 200-day moving average of $216.93. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 225,072 shares of company stock valued at $58,074,027. 11.64% of the stock is owned by insiders.

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.