Foster Victor Wealth Advisors LLC Has $25.62 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Foster Victor Wealth Advisors LLC has increased its stake in Alphabet Inc. by 8.3%, now owning 145,079 shares valued at approximately $25.62 million, representing 1.7% of its investment portfolio.
• Analysts have raised their price targets for Alphabet, with estimates ranging from $172 to $250, as the stock continues to receive ratings ranging from "Strong Buy" to "Moderate Buy."
• Alphabet recently paid a quarterly dividend of $0.21 per share, yielding approximately 0.3%, with a dividend payout ratio of 8.95% as of the latest report.

Foster Victor Wealth Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,079 shares of the information services provider's stock after purchasing an additional 11,083 shares during the period. Alphabet accounts for about 1.7% of Foster Victor Wealth Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Foster Victor Wealth Advisors LLC's holdings in Alphabet were worth $25,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Morgan Stanley raised their target price on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. BMO Capital Markets boosted their price target on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Barclays upped their price target on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Guggenheim lifted their price objective on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Three equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $233.44.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last three months. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL opened at $246.54 on Friday. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 26.26, a PEG ratio of 1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The business has a fifty day moving average of $215.93 and a 200 day moving average of $183.14.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced 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 was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Alphabet 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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