Alphabet Inc. (NASDAQ:GOOGL) is Lyell Wealth Management LP’s 6th Largest Position

Lyell Wealth Management LP increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,673 shares of the information services provider’s stock after purchasing an additional 3,652 shares during the quarter. Alphabet makes up approximately 2.4% of Lyell Wealth Management LP’s portfolio, making the stock its 6th largest position. Lyell Wealth Management LP’s holdings in Alphabet were worth $25,259,000 as of its most recent SEC filing.

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

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $163.95 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a 50-day simple moving average of $162.83 and a 200 day simple moving average of $166.49. 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 (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. Research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, August 30th. Morgan Stanley cut their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Monday, September 23rd. Eight investment 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.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’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 sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on 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 sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 180,867 shares of company stock worth $29,878,106 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.