San Luis Wealth Advisors LLC Increases Stock Position in Alphabet Inc. $GOOGL

Key Points

• San Luis Wealth Advisors LLC increased its stake in Alphabet Inc. by 3.2%, now holding 46,951 shares, valued at approximately $8.27 million.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding expectations, with revenue reaching $96.43 billion.
• Several analysts have raised their price targets for Alphabet's stock, with KeyCorp setting a new target of $265.00 and Royal Bank of Canada increasing theirs to $260.00.

San Luis Wealth Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,951 shares of the information services provider's stock after purchasing an additional 1,445 shares during the period. Alphabet accounts for approximately 1.8% of San Luis Wealth Advisors LLC's portfolio, making the stock its 14th largest holding. San Luis Wealth Advisors LLC's holdings in Alphabet were worth $8,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Grandview Asset Management LLC lifted its stake in shares of Alphabet by 2.4% during the second quarter. Grandview Asset Management LLC now owns 15,383 shares of the information services provider's stock valued at $2,711,000 after buying an additional 360 shares during the period. Beacon Capital Management LLC lifted its stake in shares of Alphabet by 1.7% during the second quarter. Beacon Capital Management LLC now owns 11,712 shares of the information services provider's stock valued at $2,064,000 after buying an additional 194 shares during the period. Patton Albertson Miller Group LLC lifted its stake in shares of Alphabet by 7.3% during the second quarter. Patton Albertson Miller Group LLC now owns 59,769 shares of the information services provider's stock valued at $10,533,000 after buying an additional 4,077 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Alphabet by 3.0% during the second quarter. CWA Asset Management Group LLC now owns 122,198 shares of the information services provider's stock valued at $21,535,000 after buying an additional 3,570 shares during the period. Finally, Flywheel Private Wealth LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $338,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $245.35 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm's fifty day moving average price is $221.25 and its 200 day moving average price is $185.80.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly 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. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Guggenheim upped their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price target on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. UBS Group increased their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. KeyCorp increased their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $240.76.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 11.64% of the company's stock.

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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