Linscomb Wealth Inc. Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Linscomb Wealth Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,604 shares of the information services provider’s stock after purchasing an additional 2,453 shares during the period. Linscomb Wealth Inc.’s holdings in Alphabet were worth $10,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth $36,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter valued at about $30,000. Finally, Denver PWM LLC bought a new stake in Alphabet during the second quarter valued at about $41,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,867 shares of company stock valued at $29,878,106. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Monday. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Bank of America lifted their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley dropped their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Stock Down 0.5 %

Shares of GOOGL opened at $161.49 on Thursday. The stock’s 50-day moving average price is $163.80 and its 200-day moving average price is $166.17. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet 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.