QTR Family Wealth LLC Raises Position in Alphabet Inc. $GOOGL

Key Points

• QTR Family Wealth LLC increased its stake in Alphabet Inc. by 14.8% in Q2, now holding 11,743 shares valued at approximately $2,069,000.
• Alphabet recently declared a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.3%.
• The company's stock has experienced a 1.9% decrease, with shares opening at $245.76, despite reporting earnings per share of $2.31 for the last quarter, surpassing expectations.

QTR Family Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,743 shares of the information services provider's stock after acquiring an additional 1,517 shares during the quarter. Alphabet accounts for about 1.3% of QTR Family Wealth LLC's investment portfolio, making the stock its 22nd largest holding. QTR Family Wealth LLC's holdings in Alphabet were worth $2,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co grew its holdings in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC grew its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC grew its holdings in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after acquiring an additional 84 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.9%

GOOGL stock opened at $245.76 on Wednesday. The company's 50 day moving average price is $223.41 and its 200 day moving average price is $187.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.69 and a beta of 1.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wedbush raised their price target on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Citigroup raised their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. BMO Capital Markets boosted their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, JMP Securities boosted their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a report on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.98.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.55% of the stock is currently 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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