Alphabet Inc. $GOOGL Shares Purchased by Wealth Quarterback LLC

Wealth Quarterback LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,509 shares of the information services provider’s stock after acquiring an additional 1,410 shares during the quarter. Alphabet accounts for 0.8% of Wealth Quarterback LLC’s portfolio, making the stock its 29th largest position. Wealth Quarterback LLC’s holdings in Alphabet were worth $1,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Smart Money Group LLC increased its stake in Alphabet by 9.4% in the first 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. J.W. Cole Advisors Inc. lifted its position in Alphabet by 41.2% during the first quarter. J.W. Cole Advisors Inc. now owns 105,906 shares of the information services provider’s stock worth $16,377,000 after buying an additional 30,904 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Alphabet by 0.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,256,496 shares of the information services provider’s stock worth $194,304,000 after buying an additional 10,304 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred 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 sale, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,174 shares of company stock worth $58,095,223 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Up 6.3%

Shares of Alphabet stock opened at $318.58 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $319.48. The stock has a market cap of $3.84 trillion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. 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 company has a fifty day moving average price of $263.73 and a 200 day moving average price of $215.00.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given 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 yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Analyst Ratings Changes

Several analysts have commented on the company. Daiwa Capital Markets upped their price objective on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. KeyCorp reaffirmed an “overweight” rating and set a $300.00 price target (up previously from $265.00) on shares of Alphabet in a research note on Monday, October 27th. JMP Securities reiterated a “market outperform” rating and issued a $290.00 price target on shares of Alphabet in a report on Wednesday, October 22nd. Finally, Evercore ISI upped their price objective on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.65.

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.