Private Client Services LLC Acquires 877 Shares of Alphabet Inc. $GOOGL

by · The Markets Daily

Private Client Services LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 14.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,907 shares of the information services provider’s stock after acquiring an additional 877 shares during the quarter. Private Client Services LLC’s holdings in Alphabet were worth $1,217,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOGL. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC grew its stake 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 buying an additional 506 shares in the last quarter. Highview Capital Management LLC DE grew its stake in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after buying an additional 1,003 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Alphabet by 6.4% in the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock valued at $14,985,000 after buying an additional 4,756 shares in the last quarter. Finally, Triumph Capital Management grew its stake in shares of Alphabet by 1.6% in the fourth quarter. Triumph Capital Management now owns 5,470 shares of the information services provider’s stock valued at $1,036,000 after buying an additional 88 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 over the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.2%

GOOGL stock opened at $240.80 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a fifty day moving average price of $201.89 and a two-hundred day moving average price of $177.48. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25. The stock has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Tigress Financial raised their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Roth Capital raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Needham & Company LLC raised their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. BMO Capital Markets raised their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, KeyCorp raised their target price on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Check Out Our Latest Research Report on Alphabet

Alphabet Company Profile

(Free Report)

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.

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