Alphabet Inc. $GOOGL Stock Holdings Increased by McGlone Suttner Wealth Management Inc.

Key Points

• McGlone Suttner Wealth Management Inc. increased its holdings in Alphabet Inc. by 9.7% during Q2, owning 21,173 shares valued at approximately $3.73 million.
• Several other institutional investors, including Chapin Davis Inc. and GAMMA Investing LLC, also raised their positions in Alphabet during the same quarter, reflecting a broader interest in the stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%, with a payout ratio of 8.95%.

McGlone Suttner Wealth Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,173 shares of the information services provider's stock after purchasing an additional 1,872 shares during the quarter. Alphabet accounts for 0.6% of McGlone Suttner Wealth Management Inc.'s holdings, making the stock its 20th biggest position. McGlone Suttner Wealth Management Inc.'s holdings in Alphabet were worth $3,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Chapin Davis Inc. raised its holdings in shares of Alphabet by 3.5% in the 2nd quarter. Chapin Davis Inc. now owns 37,797 shares of the information services provider's stock worth $6,661,000 after purchasing an additional 1,291 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Alphabet by 13.5% in the 2nd quarter. GAMMA Investing LLC now owns 117,885 shares of the information services provider's stock worth $20,775,000 after purchasing an additional 14,015 shares in the last quarter. Scharf Investments LLC raised its holdings in shares of Alphabet by 8.6% in the 2nd quarter. Scharf Investments LLC now owns 13,713 shares of the information services provider's stock worth $2,417,000 after purchasing an additional 1,084 shares in the last quarter. Ridgewood Investments LLC raised its holdings in shares of Alphabet by 12.1% in the 2nd quarter. Ridgewood Investments LLC now owns 29,579 shares of the information services provider's stock worth $5,213,000 after purchasing an additional 3,191 shares in the last quarter. Finally, ABLE Financial Group LLC raised its holdings in shares of Alphabet by 17.1% in the 2nd quarter. ABLE Financial Group LLC now owns 11,342 shares of the information services provider's stock worth $1,999,000 after purchasing an additional 1,658 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $247.14 on Thursday. The company's 50 day moving average price is $213.46 and its 200 day moving average price is $181.91. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a market capitalization of $2.99 trillion, a PE ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.01. 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 announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Research analysts expect 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 was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, September 15th. KeyCorp lifted their target price on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Canaccord Genuity Group lifted their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Finally, Bank of America lifted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.31.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business'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 transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's 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 transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. 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.

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