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

Enzi Wealth lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,561 shares of the information services provider’s stock after purchasing an additional 62 shares during the quarter. Enzi Wealth’s holdings in Alphabet were worth $408,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GOOGL. Wealth Group Ltd. increased its stake in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after acquiring an additional 78 shares during the last quarter. Eagle Capital Management LLC lifted its stake in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC grew its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Alphabet in the fourth quarter worth approximately $154,716,000. Finally, Revolve Wealth Partners LLC grew its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares in the company, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.2%

GOOGL stock opened at $179.08 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The business’s 50-day moving average is $168.70 and its 200 day moving average is $173.87.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the firm posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

Analyst Ratings Changes

A number of analysts have weighed in on GOOGL shares. DA Davidson lowered their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.95.

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.