Earned Wealth Advisors LLC Buys 6,483 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Earned Wealth Advisors LLC has increased its stake in Alphabet Inc. by 191.1%, now owning a total of 9,875 shares valued at approximately $1.53 million.
• Several analysts have raised their price targets for Alphabet, with estimates ranging from $201 to $225, while the average target stands at $211.53.
• Alphabet's recent quarterly earnings exceeded expectations, reporting $2.31 earnings per share and revenue of $96.43 billion for the quarter.

Earned Wealth Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 191.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,875 shares of the information services provider's stock after buying an additional 6,483 shares during the period. Earned Wealth Advisors LLC's holdings in Alphabet were worth $1,527,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mystic Asset Management Inc. raised its position in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its position in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $3,119,000. Cypress Capital LLC increased its position in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC increased its position in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GOOGL shares. Cantor Fitzgerald upped their price objective on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Royal Bank Of Canada upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. JMP Securities upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Finally, Truist Financial reiterated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Stock Performance

GOOGL opened at $201.42 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's fifty day moving average price is $180.89 and its two-hundred day moving average price is $172.80. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.36 and a beta of 1.01.

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 for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed 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 is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 273,219 shares of company stock worth $49,474,273. Insiders own 11.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.