21 West Wealth Management LLC Takes Position in Alphabet Inc. $GOOGL

Key Points

• 21 West Wealth Management LLC acquired a new position in Alphabet Inc. by purchasing 2,371 shares valued at approximately $418,000 during the second quarter.
• Institutional investors and hedge funds now hold 40.03% of Alphabet's stock, with significant stakes increased by firms like Nuveen LLC and GAMMA Investing LLC.
• Alphabet's stock is currently trading at around $251.61, with analysts giving it an average rating of "Moderate Buy" and a target price of $222.85.

21 West Wealth Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,371 shares of the information services provider's stock, valued at approximately $418,000.

Other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Alphabet during the first quarter worth about $4,317,606,000. GAMMA Investing LLC lifted its position in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after acquiring an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alphabet during the 4th quarter worth approximately $1,375,509,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. Cantor Fitzgerald raised their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. JMP Securities lifted their target price on shares of Alphabet from $225.00 to $250.00 and gave the stock a "market outperform" rating in a report on Wednesday, September 3rd. UBS Group increased their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Wedbush raised their price objective on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Three 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $222.85.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 4.5%

Shares of GOOGL stock opened at $251.61 on Tuesday. The stock's fifty day moving average price is $203.39 and its two-hundred day moving average price is $178.15. The company has a market cap of $3.04 trillion, a PE ratio of 26.80, a P/E/G ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $252.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was 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 is 8.95%.

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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