Activest Wealth Management Acquires 6,097 Shares of Alphabet Inc. $GOOGL

Key Points

• Activest Wealth Management increased its holdings in Alphabet Inc. by 13.7%, acquiring an additional 6,097 shares and making the stock its 10th largest position with a value of $7.84 million.
• Alphabet recently reported $2.31 EPS, surpassing analysts' expectations, with quarterly revenue reaching $96.43 billion, exceeding the forecast of $93.60 billion.
• The company declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, reflecting a dividend yield of 0.4%.

Activest Wealth Management grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,696 shares of the information services provider's stock after buying an additional 6,097 shares during the quarter. Alphabet accounts for 2.1% of Activest Wealth Management's holdings, making the stock its 10th largest holding. Activest Wealth Management's holdings in Alphabet were worth $7,840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Nia Impact Advisors LLC boosted its stake in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares during the period. Enzi Wealth boosted its stake in shares of Alphabet by 2.5% in the 1st 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 during the period. Whipplewood Advisors LLC boosted its stake in shares of Alphabet by 1.2% in the 1st 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 1st 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 1st 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 hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock traded down $2.63 on Thursday, hitting $228.03. The stock had a trading volume of 23,641,422 shares, compared to its average volume of 36,584,730. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $231.31. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.76 trillion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.43 and a beta of 1.01. The company's 50 day moving average price is $193.49 and its 200 day moving average price is $174.80.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOGL shares. Citigroup reiterated an "outperform" rating on shares of Alphabet in a research note on Wednesday. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Wells Fargo & Company lifted their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley lifted their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.31.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company'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 completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company'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 value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,210 shares of company stock valued at $41,742,155 in the last quarter. 11.55% of the stock is currently owned by insiders.

About Alphabet

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.