Gray Private Wealth LLC Invests $361,000 in Alphabet Inc. $GOOGL

Key Points

• Gray Private Wealth LLC invested approximately $361,000 in Alphabet Inc., acquiring 2,049 shares during the second quarter, making it its 29th largest holding.
• Alphabet recently reported earnings per share of $2.31 for the last quarter, exceeding analysts' expectations by $0.16, alongside a revenue of $96.43 billion.
• The company has declared a quarterly dividend of $0.21 per share, indicating an annualized payout of $0.84, which results in a yield of 0.4%.

Gray Private Wealth LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,049 shares of the information services provider's stock, valued at approximately $361,000. Alphabet accounts for 0.2% of Gray Private Wealth LLC's investment portfolio, making the stock its 29th largest holding.

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

Alphabet Stock Performance

NASDAQ GOOGL opened at $236.57 on Friday. The stock has a 50-day simple moving average of $226.31 and a two-hundred day simple moving average of $188.49. The firm has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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, beating analysts' consensus estimates of $2.15 by $0.16. The business 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, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. Insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the stock an "equal weight" rating in a research report on Tuesday. Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Mizuho set a $295.00 price objective on Alphabet and gave the stock an "outperform" rating in a research report on Monday, September 29th. Finally, Barclays raised their price objective on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $245.88.

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.

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