Signal Advisors Wealth LLC Purchases 15,606 Shares of Alphabet Inc. $GOOGL

Key Points

• Signal Advisors Wealth LLC increased its holdings in Alphabet Inc. by 80.5% during the 2nd quarter, acquiring an additional 15,606 shares for a total of 34,989 shares valued at approximately $6.16 million.
• Alphabet recently reported a quarterly earnings per share (EPS) of $2.31, surpassing analysts’ expectations by $0.16, with a revenue of $96.43 billion.
• The company declared a quarterly dividend of $0.21 per share with an annualized yield of 0.3%, reflecting a payout ratio of 8.95%.

Signal Advisors Wealth LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 80.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,989 shares of the information services provider's stock after buying an additional 15,606 shares during the quarter. Signal Advisors Wealth LLC's holdings in Alphabet were worth $6,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the 1st 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 during the period. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC raised its holdings in 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 during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 1.1%

Shares of NASDAQ:GOOGL opened at $254.72 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. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a 50-day moving average price of $209.36 and a 200 day moving average price of $180.31. The company has a market cap of $3.08 trillion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.70 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock valued at $52,405,304. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Needham & Company LLC raised their target price on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Piper Sandler raised their target price on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday. Guggenheim raised their target price on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group raised their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. 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. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $225.54.

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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