Wealthcare Capital Partners LLC Invests $238,000 in Alphabet Inc. $GOOGL

Key Points

• Wealthcare Capital Partners LLC invested $238,000 in Alphabet Inc., acquiring 1,353 shares of the company's stock in the second quarter.
• In recent insider activity, Alphabet's CEO, Sundar Pichai, sold 32,500 shares valued at over $6 million, reflecting a slight decrease in his ownership position.
• Analysts have varied opinions on Alphabet's stock; UBS raised its price target from $237 to $255, while Phillip Securities downgraded it from a "strong-buy" to a "moderate buy" rating.

Wealthcare Capital Partners LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,353 shares of the information services provider's stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Nuveen LLC acquired a new stake in shares of Alphabet in the first quarter worth $4,317,606,000. Vanguard Group Inc. raised its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Amundi boosted its holdings in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. boosted its holdings in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider's stock valued at $619,163,000 after purchasing an additional 2,565,400 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock valued at $59,062,683 in the last ninety days. Insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. UBS Group increased their price target on shares of Alphabet from $237.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday. HSBC assumed coverage on shares of Alphabet in a report on Tuesday, October 7th. They issued a "buy" rating and a $285.00 price target for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Susquehanna increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Four 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. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $245.88.

Alphabet Trading Down 2.1%

Shares of GOOGL stock opened at $236.57 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a fifty day moving average of $226.31 and a 200-day moving average of $188.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given 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 dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 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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