Adamsbrown Wealth Consultants LLC Takes $256,000 Position in Alphabet Inc. $GOOGL

Key Points

• Adamsbrown Wealth Consultants LLC has acquired a new stake in Alphabet Inc. valued at approximately $256,000, purchasing 1,452 shares in the 2nd quarter.
• Various institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their positions in Alphabet, indicating strong institutional interest in the company.
• Alphabet recently announced a quarterly dividend of $0.21 per share, which reflects an annualized yield of 0.3% and a dividend payout ratio of 8.95%.

Adamsbrown Wealth Consultants LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,452 shares of the information services provider's stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Nuveen LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $4,317,606,000. GAMMA Investing LLC increased its position in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Vanguard Group Inc. increased its position 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 valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 307.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $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 in the 4th quarter valued at $1,375,509,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. KeyCorp upped their target price on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Needham & Company LLC upped their target price on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Loop Capital reissued a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Roth Capital increased their price target on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. 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. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $222.85.

Alphabet Trading Up 4.5%

Shares of Alphabet stock opened at $251.61 on Tuesday. The firm has a market capitalization 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 twelve month low of $140.53 and a twelve month high of $252.41. The firm's 50-day moving average price is $203.39 and its 200 day moving average price is $178.15. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. 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. Company insiders own 11.55% of the company's stock.

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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