CreativeOne Wealth LLC Boosts Stock Position in Alphabet Inc. $GOOGL

Key Points

• CreativeOne Wealth LLC increased its stake in Alphabet Inc. by 19.1% during the first quarter, owning 136,575 shares valued at $21.12 million.
• Alphabet reported an earnings per share of $2.31 for the latest quarter, exceeding analysts' expectations of $2.15, along with a revenue of $96.43 billion.
• The company has recently announced a quarterly dividend of $0.21, which will be paid to investors of record on September 8th, marking a 0.4% dividend yield.

CreativeOne Wealth LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,575 shares of the information services provider's stock after buying an additional 21,888 shares during the quarter. CreativeOne Wealth LLC's holdings in Alphabet were worth $21,120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Wellington Management Group LLP raised its holdings in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after buying an additional 9,042,271 shares during the period. Invesco Ltd. grew its stake in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG grew its stake in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Wedbush boosted their target price on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Trading Up 2.0%

NASDAQ:GOOGL opened at $211.64 on Friday. The stock has a 50-day simple moving average of $189.51 and a 200-day simple moving average of $173.92. The stock has a market cap of $2.56 trillion, a P/E ratio of 22.54, a P/E/G ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $212.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. 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 0.4%. Alphabet's dividend payout ratio is 8.95%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The sale 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 dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,608 shares of company stock valued at $47,204,035 in the last 90 days. Company insiders own 11.64% of the company's stock.

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.

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