Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Cove Private Wealth LLC

Cove Private Wealth LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,859 shares of the information services provider's stock after purchasing an additional 8,868 shares during the period. Alphabet accounts for 2.5% of Cove Private Wealth LLC's investment portfolio, making the stock its 7th largest holding. Cove Private Wealth LLC's holdings in Alphabet were worth $4,772,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GOOGL. Nia Impact Advisors LLC lifted 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 worth $3,249,000 after acquiring an additional 59 shares during the period. Enzi Wealth lifted 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 worth $408,000 after acquiring an additional 62 shares during the period. Whipplewood Advisors LLC lifted 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 worth $817,000 after acquiring an additional 67 shares during the period. Aspire Capital Advisors LLC lifted 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 worth $1,086,000 after acquiring an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. lifted 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 purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,819 shares of company stock worth $49,796,547. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $203.90 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. 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 has a market capitalization of $2.47 trillion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. The firm has a fifty day simple moving average of $184.25 and a 200-day simple moving average of $173.20.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 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 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm 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. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. Westpark Capital raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial reiterated a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Loop Capital reiterated a "hold" rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Wedbush raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, KeyCorp raised their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.53.

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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