Modera Wealth Management LLC Acquires 2,375 Shares of Alphabet Inc. $GOOGL

Modera Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,338 shares of the information services provider’s stock after buying an additional 2,375 shares during the quarter. Modera Wealth Management LLC’s holdings in Alphabet were worth $17,506,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Smart Money Group LLC increased its position in shares of Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares during the last quarter. Slow Capital Inc. raised its holdings in Alphabet by 32.5% during the 1st quarter. Slow Capital Inc. now owns 115,269 shares of the information services provider’s stock valued at $17,825,000 after buying an additional 28,246 shares during the period. Finally, Evergreen Private Wealth LLC lifted its position in Alphabet by 0.5% in the first quarter. Evergreen Private Wealth LLC now owns 35,334 shares of the information services provider’s stock worth $5,464,000 after buying an additional 178 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. CIBC increased their price objective on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Needham & Company LLC raised their price objective on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. KeyCorp restated an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Finally, Melius Research increased their price target on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,896 shares of company stock valued at $47,653,637 in the last 90 days. Insiders own 11.64% of the company’s stock.

Alphabet Stock Down 0.3%

Shares of NASDAQ:GOOGL opened at $284.28 on Wednesday. The business’s 50 day moving average is $259.16 and its 200 day moving average is $211.00. The stock has a market cap of $3.43 trillion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $293.95. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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