Liberty Wealth Management LLC Has $2.23 Million Stock Holdings in Alphabet Inc. $GOOGL

Liberty Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,601 shares of the information services provider’s stock after buying an additional 1,291 shares during the period. Liberty Wealth Management LLC’s holdings in Alphabet were worth $2,231,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its holdings in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG raised its holdings in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $278.83 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The company’s 50 day moving average price is $251.23 and its two-hundred day moving average price is $204.19. The stock has a market cap of $3.37 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. 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 issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOGL shares. Sanford C. Bernstein boosted their target price on shares of Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Citigroup reiterated a “buy” rating and set a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Tigress Financial raised their target price on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

About Alphabet

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.