Triad Wealth Partners LLC Acquires 1,584 Shares of Alphabet Inc. $GOOGL

Key Points

• Triad Wealth Partners LLC increased its stake in Alphabet Inc. by 17% in Q2, acquiring an additional 1,584 shares, bringing its total holdings to 10,914 shares worth approximately $1.923 million.
• Alphabet recently declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3% and a payout ratio of 8.95%.
• Alphabet's stock has received positive ratings from several analysts, with Citigroup and Needham & Company raising their price targets to $280 and $260, respectively.

Triad Wealth Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,914 shares of the information services provider's stock after buying an additional 1,584 shares during the period. Triad Wealth Partners LLC's holdings in Alphabet were worth $1,923,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions 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 purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its stake in shares of 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 purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the 1st quarter worth about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.3%

NASDAQ GOOGL opened at $241.53 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.92 trillion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a 50 day moving average price of $225.37 and a 200 day moving average price of $188.04. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

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 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 owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred 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. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Wall Street Zen cut shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Citigroup boosted their price objective on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Needham & Company LLC boosted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Barclays boosted their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $244.62.

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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