Miller Wealth Advisors LLC Acquires New Position in Alphabet Inc. $GOOGL

Miller Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 122,187 shares of the information services provider's stock, valued at approximately $21,675,000. Alphabet comprises about 10.1% of Miller Wealth Advisors LLC's portfolio, making the stock its 6th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its position in 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 in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC boosted 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 valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, 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 value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $245.76 on Wednesday. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.69 and a beta of 1.00. 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 company's fifty day simple moving average is $223.41 and its 200 day simple moving average is $187.13.

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

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Needham & Company LLC raised their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Barclays raised their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Bank of America lifted their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $242.98.

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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