Riversedge Advisors LLC Purchases 1,120 Shares of Alphabet Inc. $GOOGL

Key Points

• Riversedge Advisors LLC increased its holdings in Alphabet Inc. by 12.6% in the second quarter, acquiring an additional 1,120 shares to reach a total of 10,012 shares valued at around $1.76 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for approximately $7.47 million, resulting in a 1.32% decrease in his ownership position.
• Analysts have varied opinions on Alphabet’s stock, with a consensus rating of "Moderate Buy" and an average price target of $222.85, reflecting a mix of upgrades and downgrades in recent reports.

Riversedge Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,012 shares of the information services provider's stock after purchasing an additional 1,120 shares during the quarter. Riversedge Advisors LLC's holdings in Alphabet were worth $1,764,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised 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 purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC boosted its position 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 shares of Alphabet in the 1st quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The transaction 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 on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,588 shares of company stock worth $44,296,554 in the last ninety days. Company insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Guggenheim raised their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. Tigress Financial upped their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. Finally, Wells Fargo & Company upped their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $222.85.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $251.16 on Wednesday. The stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $253.04. The firm's 50 day simple moving average is $204.93 and its 200-day simple moving average is $178.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for 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%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current 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 paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) 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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