Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. has increased its stake in Alphabet Inc. by 36.8% in the first quarter, bringing its total holdings to 84,742 shares worth approximately $13.1 million.
• Alphabet's quarterly earnings surpassed analysts' expectations with an EPS of $2.31 and revenues of $96.43 billion, leading to forecasts of 8.9 EPS for the current fiscal year.
• The company will pay a quarterly dividend of $0.21 per share on September 15, reflecting a 0.4% yield and an annualized dividend of $0.84.

Geneos Wealth Management Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,742 shares of the information services provider's stock after acquiring an additional 22,799 shares during the period. Geneos Wealth Management Inc.'s holdings in Alphabet were worth $13,105,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOGL. FMR LLC grew its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. GAMMA Investing LLC grew its holdings in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp increased its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Alphabet by 15.9% during 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 in the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOGL. Needham & Company LLC increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. KeyCorp raised their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Susquehanna upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Stock Up 0.2%

Shares of GOOGL traded up $0.43 during trading hours on Thursday, hitting $196.52. The company had a trading volume of 26,014,319 shares, compared to its average volume of 36,916,484. 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 has a market capitalization of $2.38 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company's fifty day moving average price is $179.76 and its two-hundred day moving average price is $173.12.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was 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 owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,219 shares of company stock worth $49,474,273. 11.64% of the stock is currently owned by insiders.

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.