Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,593 shares of the information services provider's stock after buying an additional 2,938 shares during the quarter. Alphabet accounts for about 1.0% of Global Wealth Management Investment Advisory Inc.'s holdings, making the stock its 26th biggest holding. Global Wealth Management Investment Advisory Inc.'s holdings in Alphabet were worth $5,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter worth about $49,000. EQ Wealth Advisors LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $49,000. Navigoe LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $51,000. Prudent Man Investment Management Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $53,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $57,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOGL traded up $2.57 during trading hours on Friday, hitting $180.19. The company's stock had a trading volume of 34,243,157 shares, compared to its average volume of 31,878,935. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The business's 50-day moving average is $170.32 and its two-hundred day moving average is $173.46. The company has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a PEG ratio of 1.25 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period last year, the firm posted $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Citigroup reaffirmed a "buy" rating and issued a $203.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Wednesday, June 25th. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Friday, June 27th. Finally, Truist Financial reiterated a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $199.61.

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.