Gerber Kawasaki Wealth & Investment Management Purchases 2,619 Shares of Alphabet Inc. $GOOGL

Key Points

• Gerber Kawasaki Wealth & Investment Management increased its holdings in Alphabet Inc. by 5.8%, owning 47,450 shares valued at approximately $7.34 million.
• Alphabet's recent earnings report showed $2.31 earnings per share, surpassing estimates, alongside revenues of $96.43 billion.
• The company declared a quarterly dividend of $0.21 per share, representing a yield of 0.4%, with a payout ratio of 8.95%.

Gerber Kawasaki Wealth & Investment Management boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,450 shares of the information services provider's stock after buying an additional 2,619 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Alphabet were worth $7,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Invesco Ltd. increased its position in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG increased its position in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Alphabet by 0.3% in the first 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 buying an additional 104,859 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Alphabet in the first quarter worth $4,317,606,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ:GOOGL traded up $1.27 during trading hours on Friday, hitting $212.91. 39,702,089 shares of the company's stock traded hands, compared to its average volume of 29,138,272. The firm has a market cap of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $214.65. The business's fifty day simple moving average is $190.44 and its two-hundred day simple moving average is $173.96. 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 data 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 $96.43 billion during 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%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $47,225,230 over the last three months. Corporate insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, August 21st. UBS Group raised their price target on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein raised their price target on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.

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.