Alphabet Inc. $GOOGL Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,087 shares of the information services provider’s stock after purchasing an additional 12,189 shares during the period. Modern Wealth Management LLC’s holdings in Alphabet were worth $10,065,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $28,000. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.5%

Alphabet stock opened at $240.37 on Friday. The company has a market capitalization of $2.91 trillion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $242.25. The firm has a 50 day moving average price of $200.66 and a 200 day moving average price of $177.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOGL. UBS Group lifted their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. JMP Securities raised their price target on shares of Alphabet from $225.00 to $250.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 3rd. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Finally, Loop Capital reiterated a “hold” rating and issued a $190.00 price objective (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.44.

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.