Weil Company Inc. Raises Position in Alphabet Inc. $GOOGL

Weil Company Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,711 shares of the information services provider’s stock after acquiring an additional 1,451 shares during the period. Weil Company Inc.’s holdings in Alphabet were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $50,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. JPMorgan Chase & Co. raised their price target on Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Bank of America lifted their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley increased their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group raised their target price on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $305.33.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 225,174 shares of company stock valued at $58,095,223. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $299.66 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $306.42. The firm has a market capitalization of $3.62 trillion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a fifty day simple moving average of $262.39 and a two-hundred day simple moving average of $213.84. 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 announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for 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 anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.