Bulltick Wealth Management LLC Has $2.74 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Bulltick Wealth Management LLC significantly increased its stake in Alphabet Inc. by 236.6%, owning a total of 17,515 shares valued at approximately $2.736 million as of the end of the last quarter.
• Insider selling has been notable, with John Kent Walker selling over 23,800 shares for about $4.6 million, marking a 35.65% decrease in his ownership.
• Alphabet recently posted earnings of $2.31 per share, surpassing expectations, while the company also declared a quarterly dividend of $0.21 per share, reflecting a yield of 0.4%.

Bulltick Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 236.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,515 shares of the information services provider's stock after purchasing an additional 12,312 shares during the quarter. Bulltick Wealth Management LLC's holdings in Alphabet were worth $2,736,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. Principia Wealth Advisory LLC grew its stake in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $215.19.

Alphabet Stock Down 0.6%

NASDAQ GOOG traded down $1.13 during trading on Wednesday, reaching $203.03. The company's stock had a trading volume of 19,558,050 shares, compared to its average volume of 24,310,356. 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 capitalization of $2.46 trillion, a PE ratio of 21.62, a PEG ratio of 1.36 and a beta of 1.02. The business has a 50-day moving average price of $183.93 and a 200-day moving average price of $174.75. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its 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 $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock valued at $49,674,273 over the last three months. Corporate insiders own 12.99% of the company's stock.

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.