Raleigh Capital Management Inc. Acquires 3,430 Shares of Alphabet Inc. $GOOGL

Key Points

• Raleigh Capital Management Inc. increased its stake in Alphabet Inc. by 27.7%, acquiring an additional 3,430 shares, bringing its total holdings to 15,816 shares valued at approximately $2.79 million.
• Insider trading activity witnessed Alphabet's CEO Sundar Pichai selling 32,500 shares for about $7.91 million, reflecting a 1.33% decrease in his ownership of the stock.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which contributes to an annualized dividend yield of 0.3%.

Raleigh Capital Management Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,816 shares of the information services provider's stock after buying an additional 3,430 shares during the period. Alphabet makes up 1.2% of Raleigh Capital Management Inc.'s investment portfolio, making the stock its 12th largest holding. Raleigh Capital Management Inc.'s holdings in Alphabet were worth $2,787,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Trading Down 0.1%

Shares of GOOGL opened at $245.35 on Monday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a market cap of $2.97 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.66 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. The business's 50-day moving average price is $221.25 and its 200-day moving average price is $186.12.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. 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 is presently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOGL shares. Westpark Capital raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Saturday, September 27th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $240.76.

Alphabet 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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