Solidarity Wealth LLC Buys 2,824 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Solidarity Wealth LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 106,837 shares of the information services provider's stock after purchasing an additional 2,824 shares during the period. Alphabet makes up approximately 4.1% of Solidarity Wealth LLC's portfolio, making the stock its 7th biggest holding. Solidarity Wealth LLC's holdings in Alphabet were worth $16,521,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth about $39,000. Finally, Anderson Financial Strategies LLC purchased a new position in Alphabet in the 4th quarter valued at about $49,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 3.1%

Alphabet stock opened at $195.04 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 firm has a 50 day moving average price of $178.85 and a 200 day moving average price of $172.81. The company has a market capitalization of $2.36 trillion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock valued at $43,525,794 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Roth Capital raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Rosenblatt Securities raised their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Citigroup raised their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.39.

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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