Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Purus Wealth Management LLC

Purus Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,813 shares of the information services provider’s stock after buying an additional 2,612 shares during the quarter. Alphabet accounts for 2.5% of Purus Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. Purus Wealth Management LLC’s holdings in Alphabet were worth $5,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its stake in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Capital Research Global Investors boosted its holdings in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Alphabet by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock valued at $6,310,925,000 after purchasing an additional 1,429,261 shares during the period. Finally, Capital World Investors raised its holdings in shares of Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after buying an additional 597,756 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,725 shares of company stock valued at $31,933,031. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, August 30th. Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Argus increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a report on Monday, September 16th. Eight 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.35.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $166.99 on Wednesday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The stock’s 50-day moving average is $162.22 and its 200-day moving average is $167.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the company posted $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 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.