Calamos Wealth Management LLC Purchases 6,323 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Calamos Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 359,482 shares of the information services provider's stock after acquiring an additional 6,323 shares during the quarter. Alphabet accounts for about 2.8% of Calamos Wealth Management LLC's investment portfolio, making the stock its 9th biggest position. Calamos Wealth Management LLC's holdings in Alphabet were worth $55,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Harbour Trust & Investment Management Co increased its stake in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new position in Alphabet in the fourth quarter worth about $3,119,000. Cypress Capital LLC lifted its holdings in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares during the last quarter. Optivise Advisory Services LLC boosted its stake in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares during the period. Finally, Community Bank N.A. grew its holdings in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on 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 directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,443 shares of company stock worth $36,298,548. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.8%

Shares of GOOGL traded up $1.37 during midday trading on Monday, hitting $181.56. The stock had a trading volume of 32,489,660 shares, compared to its average volume of 31,917,488. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The business has a 50-day simple moving average of $170.66 and a two-hundred day simple moving average of $173.07. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.20 trillion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

Several analysts recently issued reports on GOOGL shares. BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Morgan Stanley dropped their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Truist Financial reissued a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. KeyCorp upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Roth Mkm reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $199.61.

About Alphabet

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.