21 West Wealth Management LLC Makes New $455,000 Investment in Alphabet Inc. $GOOG

Key Points

• 21 West Wealth Management LLC made a new investment in Alphabet Inc., purchasing 2,567 shares valued at approximately $455,000 during the second quarter.
• Alphabet reported $2.31 earnings per share, exceeding analysts' estimates, with quarterly revenue of $96.43 billion, up 13.8% year-over-year.
• The company declared a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3% and a dividend payout ratio of 8.95%.

21 West Wealth Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,567 shares of the information services provider's stock, valued at approximately $455,000.

Other hedge funds also recently bought and sold shares of the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $241.38 on Monday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $242.57. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The stock's 50-day moving average price is $202.67 and its 200-day moving average price is $178.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Pivotal Research raised their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $227.56.

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.

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