Bosman Wealth Management LLC Grows Stake in Alphabet Inc. $GOOGL

Key Points

• Bosman Wealth Management LLC increased its stake in Alphabet Inc. by 20.4% during the 2nd quarter, acquiring an additional 5,663 shares to bring its total holdings to 33,362 shares.
• Several institutional investors, including Elwood & Goetz Wealth Advisory Group LLC and Spectrum Strategic Capital Management LLC, also raised their stakes in Alphabet during the same period, reflecting a growing interest in the tech giant.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.3%, while the company's market capitalization stands at approximately $2.97 trillion.

Bosman Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,362 shares of the information services provider's stock after acquiring an additional 5,663 shares during the period. Alphabet comprises approximately 5.2% of Bosman Wealth Management LLC's investment portfolio, making the stock its 4th largest holding. Bosman Wealth Management LLC's holdings in Alphabet were worth $5,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Elwood & Goetz Wealth Advisory Group LLC raised its stake in Alphabet by 46.0% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,108 shares of the information services provider's stock valued at $548,000 after buying an additional 979 shares during the period. Spectrum Strategic Capital Management LLC raised its stake in Alphabet by 38.8% in the second quarter. Spectrum Strategic Capital Management LLC now owns 19,908 shares of the information services provider's stock valued at $3,508,000 after buying an additional 5,568 shares during the period. Emerald Advisors LLC raised its stake in Alphabet by 5.1% in the second quarter. Emerald Advisors LLC now owns 5,256 shares of the information services provider's stock valued at $926,000 after buying an additional 254 shares during the period. Eagle Bluffs Wealth Management LLC raised its stake in Alphabet by 2.2% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 20,343 shares of the information services provider's stock valued at $3,585,000 after buying an additional 430 shares during the period. Finally, Robbins Farley raised its stake in Alphabet by 10.4% in the second quarter. Robbins Farley now owns 21,294 shares of the information services provider's stock valued at $3,753,000 after buying an additional 2,013 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC upped their price objective on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Citizens Jmp upped their target price on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. Finally, Guggenheim upped their target price on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $240.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 953 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Down 0.1%

Shares of NASDAQ:GOOGL opened at $245.35 on Monday. The company has a market capitalization of $2.97 trillion, a P/E ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. 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 business's 50 day simple moving average is $221.25 and its 200 day simple moving average is $186.12.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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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