Tyche Wealth Partners LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Tyche Wealth Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,043 shares of the information services provider’s stock after buying an additional 90 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Alphabet were worth $3,287,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Tennessee Valley Asset Management Partners purchased a new position in shares of Alphabet during the 4th quarter worth $100,000. Macroview Investment Management LLC lifted its stake in shares of Alphabet by 267.7% during the 4th quarter. Macroview Investment Management LLC now owns 1,173 shares of the information services provider’s stock worth $164,000 after purchasing an additional 854 shares during the period. Allen Capital Group LLC lifted its stake in shares of Alphabet by 3.8% during the 4th quarter. Allen Capital Group LLC now owns 37,111 shares of the information services provider’s stock worth $5,184,000 after purchasing an additional 1,368 shares during the period. Arbor Trust Wealth Advisors LLC lifted its stake in shares of Alphabet by 1.7% during the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 28,162 shares of the information services provider’s stock worth $3,934,000 after purchasing an additional 465 shares during the period. Finally, Safeguard Financial LLC purchased a new position in shares of Alphabet during the 4th quarter worth $226,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GOOGL shares. Loop Capital reaffirmed a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Susquehanna increased their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Jefferies Financial Group increased their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, Tigress Financial increased their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 24th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Stock Performance

Shares of GOOGL stock opened at $163.80 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company’s 50-day simple moving average is $174.96 and its 200-day simple moving average is $162.89. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the company posted $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.62 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 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $26,823,893 over the last quarter. Insiders own 11.55% of the company’s stock.

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.