Kestra Private Wealth Services LLC Has $64.41 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Kestra Private Wealth Services LLC increased its holdings in Alphabet Inc. by 4.8%, owning 416,540 shares worth approximately $64.41 million, making it the 10th largest position in their investment portfolio.
• Wall Street analysts have a positive outlook on Alphabet, with multiple firms raising their price targets; the consensus rating is a "Moderate Buy" and the average price target is $211.32.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annualized dividend of $0.84 and a yield of 0.43%, suggesting a stable return for shareholders.

Kestra Private Wealth Services LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 416,540 shares of the information services provider's stock after purchasing an additional 19,060 shares during the quarter. Alphabet accounts for approximately 1.1% of Kestra Private Wealth Services LLC's investment portfolio, making the stock its 10th largest position. Kestra Private Wealth Services LLC's holdings in Alphabet were worth $64,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Eagle Capital Management LLC lifted its holdings in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC lifted its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Highview Capital Management LLC DE lifted its stake in shares of Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC lifted its stake in shares of Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after acquiring an additional 13,564 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Barclays increased their target price on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday. Roth Capital raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Citigroup raised their target price on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday. Sanford C. Bernstein raised their price objective on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley raised their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.32.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the 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 transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock valued at $43,523,710 over the last three months. Insiders own 11.64% of the company's stock.

Alphabet Stock Performance

GOOGL stock opened at $193.18 on Friday. The firm has a market cap of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $175.77 and a 200-day moving average of $172.93. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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 company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.43%. Alphabet's payout ratio 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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