Alphabet Inc. $GOOGL Shares Purchased by GK Wealth Management LLC

GK Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,594 shares of the information services provider's stock after buying an additional 1,587 shares during the period. Alphabet comprises about 2.3% of GK Wealth Management LLC's holdings, making the stock its 8th largest position. GK Wealth Management LLC's holdings in Alphabet were worth $2,572,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. O Connor Financial Group LLC raised its position in shares of Alphabet by 11.2% during the 2nd quarter. O Connor Financial Group LLC now owns 1,752 shares of the information services provider's stock worth $315,000 after acquiring an additional 177 shares in the last quarter. Trust Co. of Oklahoma increased its stake in Alphabet by 1.1% in the second quarter. Trust Co. of Oklahoma now owns 39,388 shares of the information services provider's stock valued at $6,941,000 after purchasing an additional 421 shares during the last quarter. Value Partners Investments Inc. increased its stake in Alphabet by 8.8% in the second quarter. Value Partners Investments Inc. now owns 492,378 shares of the information services provider's stock valued at $86,768,000 after purchasing an additional 39,921 shares during the last quarter. St. Clair Advisors LLC raised its holdings in Alphabet by 14.9% during the second quarter. St. Clair Advisors LLC now owns 22,295 shares of the information services provider's stock worth $3,929,000 after purchasing an additional 2,885 shares in the last quarter. Finally, Accelerate Investment Advisors LLC lifted its position in shares of Alphabet by 6.8% during the 2nd quarter. Accelerate Investment Advisors LLC now owns 3,355 shares of the information services provider's stock worth $591,000 after buying an additional 214 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Canaccord Genuity Group raised their price objective on Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Piper Sandler boosted their target price on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Finally, Wedbush lifted their price target on 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 assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.44.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.2%

GOOGL stock opened at $240.80 on Monday. 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 company's 50-day moving average price is $201.89 and its 200 day moving average price is $177.58. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $242.25. The company has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 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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