Ehrlich Financial Group Acquires Shares of 1,176 Alphabet Inc. $GOOGL

Ehrlich Financial Group acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,176 shares of the information services provider’s stock, valued at approximately $207,000.

Several other hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was 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 directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GOOGL shares. Bank of America upped their price objective on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Morgan Stanley upped their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, September 3rd. DA Davidson boosted their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. Finally, Piper Sandler increased their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $222.85.

Alphabet Price Performance

Shares of GOOGL stock opened at $251.61 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $252.41. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $203.39 and a two-hundred day simple moving average of $178.15. The stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.