Proficio Capital Partners LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Proficio Capital Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,065 shares of the information services provider’s stock after purchasing an additional 809 shares during the period. Alphabet makes up about 0.7% of Proficio Capital Partners LLC’s portfolio, making the stock its 25th biggest position. Proficio Capital Partners LLC’s holdings in Alphabet were worth $6,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC acquired a new stake in Alphabet during the 1st quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $38,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Monday, July 22nd. Mizuho raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley decreased their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.17.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,065 shares of company stock worth $22,841,690. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $157.36 on Wednesday. The firm has a market cap of $1.94 trillion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business’s fifty day simple moving average is $172.59 and its 200-day simple moving average is $164.17.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the company posted $1.44 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

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.