Precision Wealth Strategies LLC Grows Stock Position in Alphabet Inc. $GOOGL

Key Points

• Precision Wealth Strategies LLC increased its stock holdings in Alphabet Inc. by 498.8% during the 2nd quarter, owning 10,222 shares worth approximately $1.8 million after purchasing an additional 8,515 shares.
• In recent transactions, several insiders, including Director Kavitark Ram Shriram, sold significant shares of Alphabet, decreasing their positions by 7.09% and 35.65%, respectively, in July and August.
• Alphabet recently announced a quarterly dividend of $0.21 per share, equating to an annual yield of 0.3%, reflecting a modest payout ratio of 8.95%.

Precision Wealth Strategies LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 498.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,222 shares of the information services provider's stock after buying an additional 8,515 shares during the quarter. Precision Wealth Strategies LLC's holdings in Alphabet were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised 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 worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC raised its holdings 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 purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on 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 approximately $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on 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 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 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. 11.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOGL shares. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. DA Davidson raised their price objective on Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the company an "equal weight" rating in a research note on Tuesday. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $242.98.

Alphabet Price Performance

GOOGL stock 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 52-week low of $140.53 and a 52-week high of $256.00. The stock's 50 day moving average is $224.37 and its two-hundred day moving average is $187.53. The company has a market capitalization of $2.96 trillion, a PE ratio of 26.05, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed 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 payout ratio is currently 8.95%.

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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