Alphabet Inc. $GOOG Shares Acquired by Apella Capital LLC

Key Points

• Apella Capital LLC significantly increased its stake in Alphabet Inc. by 643.6%, now holding 74,543 shares valued at approximately $13.24 million.
• A range of analysts have rated Alphabet with a consensus target price of $227.56, indicating a generally positive outlook for the stock, with multiple investment agencies issuing buy ratings.
• CEO Sundar Pichai sold 32,500 shares of Alphabet's stock, amounting to over $7.4 million, which has decreased his ownership by 1.32%.

Apella Capital LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 643.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,543 shares of the information services provider's stock after acquiring an additional 64,518 shares during the period. Apella Capital LLC's holdings in Alphabet were worth $13,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter valued at $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet during the first quarter valued at $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the first quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in shares of Alphabet in the first quarter worth about $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 0.6%

Shares of GOOG stock traded down $1.57 during trading on Wednesday, reaching $249.85. The company's stock had a trading volume of 20,412,102 shares, compared to its average volume of 23,959,092. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.69 and a beta of 1.01. The stock's 50-day moving average price is $205.68 and its 200 day moving average price is $179.98. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $253.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business's quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Pivotal Research raised their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company'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 owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,588 shares of company stock worth $44,296,554. 12.99% of the stock is owned by insiders.

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.