RVW Wealth LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 37.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,417 shares of the information services provider's stock after buying an additional 1,196 shares during the period. RVW Wealth LLC's holdings in Alphabet were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at about $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 valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GOOGL. BMO Capital Markets boosted their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Royal Bank Of Canada boosted their target price on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Piper Sandler boosted their price target on Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $233.44.
Check Out Our Latest Report on Alphabet
Alphabet Stock Performance
NASDAQ GOOGL opened at $246.54 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $215.93 and its two-hundred day moving average is $183.14. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.66 and a beta of 1.01.
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, 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 analysts' expectations of $93.60 billion. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.
Insiders Place Their Bets
In related news, insider John Kent Walker sold 23,820 shares of the company's 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 sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. 11.64% of the stock is owned by insiders.
About Alphabet
(
Free Report)
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.
See Also
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