BCS Wealth Management Has $984,000 Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• BCS Wealth Management increased its stake in Alphabet Inc. by 34.7% during Q2, bringing its holdings to $984,000 represented by 5,585 shares.
• Alphabet reported quarterly earnings of $2.31 per share, exceeding estimates of $2.15, with revenues of $96.43 billion for the quarter.
• The company recently announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%.

BCS Wealth Management raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,585 shares of the information services provider's stock after purchasing an additional 1,438 shares during the quarter. BCS Wealth Management's holdings in Alphabet were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AM Investment Strategies LLC boosted its holdings in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after purchasing an additional 57 shares in the last quarter. Bfsg LLC boosted its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock valued at $1,838,000 after purchasing an additional 59 shares in the last quarter. Enzi Wealth boosted its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares in the last quarter. Park Capital Management LLC WI boosted its holdings in Alphabet by 1.1% during the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock valued at $1,058,000 after purchasing an additional 65 shares in the last quarter. Finally, Wolff Financial Management LLC boosted its holdings in Alphabet by 2.6% during the second quarter. Wolff Financial Management LLC now owns 2,632 shares of the information services provider's stock valued at $464,000 after purchasing an additional 66 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL stock opened at $246.54 on Friday. 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 50 day moving average price of $215.93 and a 200 day moving average price of $183.14. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock has a market capitalization of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet 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. The trade was a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $201.00 target price on shares of Alphabet in a research note on Wednesday. Truist Financial lifted their target price on shares of Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Stifel Nicolaus lifted their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Moffett Nathanson lifted their target price on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Barclays lifted their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $233.44.

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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