Wealth Quarterback LLC Raises Holdings in Alphabet Inc. $GOOGL

Wealth Quarterback LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,509 shares of the information services provider’s stock after purchasing an additional 1,410 shares during the quarter. Alphabet makes up 0.8% of Wealth Quarterback LLC’s investment portfolio, making the stock its 29th biggest holding. Wealth Quarterback LLC’s holdings in Alphabet were worth $1,676,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Gimbal Financial raised its position in Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 53 shares during the last quarter. Missouri Trust & Investment Co grew its position in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the last quarter. Silver Coast Investments LLC increased its stake in Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after purchasing an additional 55 shares during the period. AM Investment Strategies LLC raised its holdings in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares during the last quarter. Finally, Bfsg LLC boosted its stake in shares of Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GOOGL shares. China Renaissance boosted their price target on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group boosted their target price on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. BNP Paribas Exane assumed coverage on Alphabet in a research note on Monday. They set an “outperform” rating and a $355.00 price target for the company. Evercore ISI lifted their price objective on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley upped their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.65.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 225,174 shares of company stock worth $58,095,223. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $318.58 on Tuesday. 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 one year low of $140.53 and a one year high of $319.48. The firm has a market capitalization of $3.84 trillion, a P/E ratio of 31.42, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day moving average is $263.73 and its two-hundred day moving average is $215.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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 firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.