BKM Wealth Management LLC Makes New $223,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• BKM Wealth Management LLC invested $223,000 in 1,440 shares of Alphabet Inc. (GOOGL) in the first quarter, marking a new position in the company.
• Various hedge funds, including Atlantic Union Bankshares Corp and WNY Asset Management LLC, have also increased their positions in GOOGL during the same period.
• Alphabet announced a quarterly dividend of $0.21 per share, to be paid on September 15th, with a yield of 0.43% and a payout ratio of 8.95%.

BKM Wealth Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,440 shares of the information services provider's stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. von Borstel & Associates Inc. bought a new stake in Alphabet in the 1st quarter valued at about $28,000. Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter valued at approximately $39,000. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $49,000. Navigoe LLC bought a new position in shares of Alphabet in the fourth quarter worth $51,000. Finally, Elite Financial Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,298 shares of company stock worth $43,505,967 in the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.4%

Shares of NASDAQ:GOOGL traded up $0.78 on Wednesday, hitting $196.53. The company had a trading volume of 32,265,287 shares, compared to its average volume of 37,021,776. The firm's 50-day simple moving average is $177.49 and its two-hundred day simple moving average is $173.11. The firm has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.30 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Tigress Financial upped their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Mizuho lowered their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald upped their price target on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Needham & Company LLC lifted their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

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.