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Watts Gwilliam & Co. LLC Buys 3,515 Shares of Alphabet Inc. $GOOGL

Alphabet logo with Computer and Technology background

Key Points

  • Watts Gwilliam & Co. LLC increased its stake in Alphabet Inc. by 18.0%, acquiring an additional 3,515 shares, bringing its total holdings to 23,009 shares valued at $3.56 million.
  • Alphabet has announced a quarterly dividend of $0.21 per share, set to be paid on September 15, which results in an annualized dividend of $0.84 and a yield of 0.4%.
  • Following its latest earnings report, Alphabet beat analyst expectations with an EPS of $2.31 and reported revenue of $96.43 billion for the quarter.
  • Looking to export and analyze Alphabet data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Watts Gwilliam & Co. LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 23,009 shares of the information services provider's stock after acquiring an additional 3,515 shares during the quarter. Watts Gwilliam & Co. LLC's holdings in Alphabet were worth $3,558,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GOOGL. Mystic Asset Management Inc. raised its holdings in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth $3,119,000. Cypress Capital LLC raised its holdings in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Finally, Falcon Wealth Planning raised its holdings in shares of Alphabet by 15.7% during the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock worth $1,531,000 after buying an additional 1,340 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $206.09 on Friday. The stock's 50 day moving average is $186.81 and its 200 day moving average is $173.37. 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 firm has a market cap of $2.49 trillion, a P/E ratio of 21.95, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $208.54.

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 analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America boosted their price target on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Guggenheim boosted their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Barclays upped their target price on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

Check Out Our Latest Research Report on GOOGL

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock valued at $47,223,172 in the last ninety days. Insiders own 11.64% of the company's stock.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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