CW Advisors LLC Increases Stake in Alphabet Inc. $GOOGL

Key Points

• CW Advisors LLC increased its stake in Alphabet Inc. by 22.3% in Q1, owning 359,799 shares valued at approximately $55.88 million.
• Alphabet's stock has risen by 3.2%, with recent shares opening at $206.09 and a current market capitalization of $2.49 trillion.
• The company recently announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95% and an annual yield of 0.4%.

CW Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,799 shares of the information services provider's stock after buying an additional 65,531 shares during the period. Alphabet comprises 0.7% of CW Advisors LLC's holdings, making the stock its 27th biggest holding. CW Advisors LLC's holdings in Alphabet were worth $55,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter worth $28,000. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Cantor Fitzgerald raised their target price 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 reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, August 21st. DA Davidson lifted their price objective on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Citigroup lifted their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Guggenheim lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated 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 approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,719 shares of company stock valued at $47,223,172. Insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $4.37 during trading on Thursday, hitting $211.85. The company had a trading volume of 13,519,163 shares, compared to its average volume of 36,056,625. The stock has a fifty day simple moving average of $188.75 and a two-hundred day simple moving average of $173.75. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $211.85. The firm has a market capitalization of $2.56 trillion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

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.