Segment Wealth Management LLC Has $16.07 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Segment Wealth Management LLC has increased its stake in Alphabet Inc. by 4.2%, holding a total of 91,162 shares valued at approximately $16.07 million as of the end of the second quarter.
• Alphabet's CEO, Sundar Pichai, recently sold 32,500 shares for nearly $6 million, which represents a 1.27% decrease in his ownership, while insider sales totaled 276,738 shares valued at $59 million in the last quarter.
• The company reported earnings per share (EPS) of $2.31, surpassing analysts' estimates, with revenue of $96.43 billion for the quarter, exceeding expectations of $93.60 billion.

Segment Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,162 shares of the information services provider's stock after buying an additional 3,657 shares during the period. Segment Wealth Management LLC's holdings in Alphabet were worth $16,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its position 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 in the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last quarter. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $236.57 on Friday. The business has a 50 day simple moving average of $226.31 and a 200 day simple moving average of $188.66. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. 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 0.4%. Alphabet's dividend payout ratio is 8.95%.

Analyst Ratings Changes

Several research analysts recently issued reports on GOOGL shares. Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Moffett Nathanson boosted their price objective on Alphabet from $230.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. Wells Fargo & Company set a $236.00 price objective on Alphabet and gave the stock an "equal weight" rating in a report on Tuesday. Roth Capital boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Needham & Company LLC boosted their price objective on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Four research 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 company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $245.88.

Alphabet Company 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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