Alliance Wealth Advisors LLC UT Has $2.69 Million Stake in Alphabet Inc. $GOOGL

Alliance Wealth Advisors LLC UT boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,403 shares of the information services provider’s stock after buying an additional 1,948 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Alphabet were worth $2,691,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOGL. Nuveen LLC acquired a new position in Alphabet during the first quarter worth $4,317,606,000. GAMMA Investing LLC increased 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 during the last quarter. Vanguard Group Inc. increased its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Northern Trust Corp increased its position in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Needham & Company LLC upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Rosenblatt Securities upped their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Truist Financial restated a “buy” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Finally, Citizens Jmp upgraded shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a report on Friday, June 27th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.53.

Alphabet Stock Down 1.1%

NASDAQ GOOGL opened at $199.32 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50-day simple moving average of $185.70 and a 200 day simple moving average of $173.38. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a market cap of $2.41 trillion, a PE ratio of 21.23, a PEG ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at $489,572,657.16. This trade represents a 1.29% 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 Kavitark Ram Shriram sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,219 shares of company stock worth $40,725,772 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Alphabet Company 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.