Lyell Wealth Management LP Acquires 5,864 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Lyell Wealth Management LP increased its stake in Alphabet Inc. by 4.2%, acquiring an additional 5,864 shares, bringing its total to 144,617 shares, which are valued at approximately $22.36 million.
• Insiders in Alphabet have been selling shares, with notable sales including John Kent Walker selling 23,820 shares for $4.64 million and CEO Sundar Pichai selling 32,500 shares for $5.80 million.
• Alphabet recently declared a quarterly dividend of $0.21 per share, scheduled for payment on September 15th, which translates to an annualized yield of 0.4%.

Lyell Wealth Management LP lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 144,617 shares of the information services provider's stock after purchasing an additional 5,864 shares during the period. Alphabet accounts for approximately 2.1% of Lyell Wealth Management LP's portfolio, making the stock its 9th biggest holding. Lyell Wealth Management LP's holdings in Alphabet were worth $22,364,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $28,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 in the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $196.52 on Friday. The stock has a market cap of $2.38 trillion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock's 50-day moving average price is $180.26 and its two-hundred day moving average price is $173.13. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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 $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOGL. Tigress Financial upped their target price on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Bank of America increased their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Roth Capital raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Susquehanna upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Barclays increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Ten equities 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 stock. Based on data from MarketBeat, Alphabet 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.

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