WBI Investments LLC Makes New Investment in Alphabet Inc. $GOOGL

Key Points

• WBI Investments LLC invested approximately $417,000 by purchasing 2,695 shares of Alphabet Inc. in the first quarter, highlighting significant institutional interest in the company.
• Alphabet's CEO, Sundar Pichai, recently sold 32,500 shares for over $7.4 million, while company insiders have sold a total of 254,710 shares worth $49.2 million in the past 90 days.
• The company announced a quarterly dividend of $0.21 per share, reflecting a low payout ratio of 8.95% and indicating solid financial health relative to dividend commitments.

WBI Investments LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,695 shares of the information services provider's stock, valued at approximately $417,000.

A number of other institutional investors also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its position in 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 buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its position in 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 buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. Company insiders own 11.64% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $240.37 on Friday. The company's fifty day moving average price is $200.66 and its 200 day moving average price is $177.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The stock has a market capitalization of $2.91 trillion, a P/E ratio of 25.60, a P/E/G ratio of 1.61 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 released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. Wells Fargo & Company lifted their target price on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Sanford C. Bernstein lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Canaccord Genuity Group lifted their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $221.44.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.