Tyler Stone Wealth Management Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Tyler Stone Wealth Management has increased its stake in Alphabet Inc. by 5.1%, bringing its total holdings to 58,361 shares valued at approximately $9.12 million.
• Alphabet's CEO, Sundar Pichai, sold 32,500 shares for around $6.38 million, resulting in a 1.29% decrease in his ownership.
• Analysts have varying ratings for the stock, with a consensus target price of $215.19 and an average rating of "Moderate Buy".

Tyler Stone Wealth Management grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,361 shares of the information services provider's stock after purchasing an additional 2,848 shares during the period. Alphabet makes up 1.6% of Tyler Stone Wealth Management's investment portfolio, making the stock its 11th largest position. Tyler Stone Wealth Management's holdings in Alphabet were worth $9,118,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet in the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $53,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the transaction, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock worth $49,796,547 in the last three months. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Raymond James Financial restated an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and set a $235.00 target price (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $204.91 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a market capitalization of $2.48 trillion, a P/E ratio of 21.82, a P/E/G ratio of 1.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company's fifty day moving average price is $185.21 and its 200 day moving average price is $174.87.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the company posted $1.89 earnings per share. The business's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

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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