Alliance Wealth Advisors LLC UT Grows Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Alliance Wealth Advisors LLC UT increased its stake in Alphabet Inc. by 12.6%, bringing its total holdings to $2.69 million with 17,403 shares by the end of the first quarter.
• Numerous hedge funds also made significant investments in Alphabet, with Nuveen LLC acquiring a new position worth $4.32 billion and GAMMA Investing LLC raising its position by over 16,993%.
• Alphabet's recent earnings report showed earnings per share of $2.31, exceeding estimates, along with a quarterly dividend announcement of $0.21 to be paid on September 15th.

Alliance Wealth Advisors LLC UT grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,403 shares of the information services provider's stock after acquiring an additional 1,948 shares during the period. Alliance Wealth Advisors LLC UT's holdings in Alphabet were worth $2,691,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Nia Impact Advisors LLC lifted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after acquiring an additional 59 shares during the last quarter. Enzi Wealth raised its position in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC boosted its stake in shares of Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after buying an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. boosted its stake in shares of Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.2%

Shares of Alphabet stock traded up $6.34 during trading on Friday, hitting $206.09. The company's stock had a trading volume of 42,770,206 shares, compared to its average volume of 31,218,810. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $208.54. The stock has a market cap of $2.49 trillion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a 50-day moving average price of $186.81 and a two-hundred day moving average price of $173.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Cantor Fitzgerald boosted their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday. Wedbush boosted their price target on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated 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 transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 over the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Company 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.