McGuire Investment Group LLC Acquires 5,542 Shares of Alphabet Inc. $GOOGL

McGuire Investment Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,651 shares of the information services provider's stock after buying an additional 5,542 shares during the period. Alphabet comprises 1.5% of McGuire Investment Group LLC's portfolio, making the stock its 23rd largest holding. McGuire Investment Group LLC's holdings in Alphabet were worth $11,922,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter worth about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOGL shares. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Westpark Capital boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Loop Capital reaffirmed a "hold" rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Wall Street Zen lowered Alphabet from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Finally, JMP Securities upped their price objective on Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a report on Friday, September 19th. Five investment 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $242.98.

Alphabet Price Performance

Shares of GOOGL opened at $244.62 on Thursday. 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 Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The business has a 50-day simple moving average of $224.37 and a two-hundred day simple moving average of $187.53. The stock has a market cap of $2.96 trillion, a PE ratio of 26.05, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 11.64% of the stock is owned by company insiders.

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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