Turn8 Private Wealth Inc. Purchases 468 Shares of Alphabet Inc. $GOOGL

Turn8 Private Wealth Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,756 shares of the information services provider’s stock after buying an additional 468 shares during the quarter. Alphabet comprises 2.6% of Turn8 Private Wealth Inc.’s holdings, making the stock its 14th biggest position. Turn8 Private Wealth Inc.’s holdings in Alphabet were worth $3,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $4,317,606,000. GAMMA Investing LLC grew its position in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. increased its stake in Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after acquiring an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Alphabet in the 4th quarter valued at $1,375,509,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Loop Capital reiterated a “hold” rating and set a $190.00 price objective (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Wells Fargo & Company boosted their target price on shares of Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. KeyCorp upped their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.44.

Alphabet Stock Performance

Shares of Alphabet stock opened at $239.17 on Thursday. The company’s 50 day moving average price is $199.43 and its two-hundred day moving average price is $176.61. The firm has a market capitalization of $2.89 trillion, a P/E ratio of 25.47, a P/E/G ratio of 1.61 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $241.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 11.64% of the company’s stock.

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.