Alphabet Inc. $GOOGL Shares Bought by Tyler Stone Wealth Management

Key Points

• Tyler Stone Wealth Management increased its stake in Alphabet Inc. by 10.0% during the first quarter, acquiring an additional 3,248 shares, bringing their total to 35,757 shares valued at approximately $5.53 million.
• Several hedge funds have also adjusted their positions in Alphabet, with institutional investors now holding 40.03% of the company's stock.
• Alphabet recently reported strong earnings, with an EPS of $2.31 that surpassed estimates, alongside a declared quarterly dividend of $0.21 to be paid on September 15th.

Tyler Stone Wealth Management lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,757 shares of the information services provider's stock after purchasing an additional 3,248 shares during the period. Alphabet comprises about 1.0% of Tyler Stone Wealth Management's portfolio, making the stock its 24th largest holding. Tyler Stone Wealth Management's holdings in Alphabet were worth $5,529,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Sprucegrove Investment Management Ltd. boosted its holdings in Alphabet by 170.0% in the 1st quarter. Sprucegrove Investment Management Ltd. now owns 59,734 shares of the information services provider's stock worth $9,237,000 after buying an additional 37,609 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Alphabet by 2.3% during the 1st quarter. Cresset Asset Management LLC now owns 1,474,096 shares of the information services provider's stock worth $227,954,000 after purchasing an additional 33,109 shares during the last quarter. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Alphabet by 3.5% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 8,522 shares of the information services provider's stock worth $1,318,000 after purchasing an additional 292 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Alphabet by 12.6% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 17,403 shares of the information services provider's stock worth $2,691,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Alphabet by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 93,449 shares of the information services provider's stock worth $14,451,000 after purchasing an additional 668 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOGL shares. JMP Securities boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Wedbush lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Piper Sandler lifted their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Loop Capital reaffirmed a "hold" rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Rosenblatt Securities lifted their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet Trading Up 3.2%

Shares of GOOGL traded up $6.34 during midday trading on Friday, hitting $206.09. 42,770,206 shares of the stock were exchanged, compared to its average volume of 31,218,810. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $208.54. The stock has a fifty day simple moving average of $186.81 and a 200 day simple moving average of $173.25. The firm has a market cap of $2.49 trillion, a P/E ratio of 21.95, 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 posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the sale, the chief executive officer owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 over the last ninety days. Insiders own 11.64% of the company's stock.

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.