Strategies Wealth Advisors LLC Purchases Shares of 5,718 Alphabet Inc. $GOOGL

Key Points

• Strategies Wealth Advisors LLC has acquired a new stake in Alphabet Inc. by purchasing 5,718 shares valued at approximately $884,000 in the first quarter.
• Alphabet reported quarterly earnings of $2.31 per share, exceeding the consensus estimate, with revenue of $96.428 billion.
• The company recently declared a quarterly dividend of $0.21 per share, with an ex-dividend date set for September 8th.

Strategies Wealth Advisors LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,718 shares of the information services provider's stock, valued at approximately $884,000.

Several other large investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the first 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 1.2%

Shares of GOOGL opened at $208.49 on Tuesday. The company's fifty day moving average is $187.44 and its 200 day moving average is $173.28. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $210.52. The stock has a market capitalization of $2.52 trillion, a PE ratio of 22.20, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the sale, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,719 shares of company stock worth $47,223,172. Company insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Citigroup lifted their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.53.

About Alphabet

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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