BXM Wealth LLC Has $1.67 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

BXM Wealth LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 24.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,755 shares of the information services provider’s stock after buying an additional 2,125 shares during the period. Alphabet accounts for approximately 2.0% of BXM Wealth LLC’s investment portfolio, making the stock its 11th largest holding. BXM Wealth LLC’s holdings in Alphabet were worth $1,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CapWealth Advisors LLC increased its stake in shares of Alphabet by 8.8% in the 1st quarter. CapWealth Advisors LLC now owns 57,093 shares of the information services provider’s stock valued at $8,829,000 after buying an additional 4,615 shares during the period. Stratos Investment Management LLC grew its stake in shares of Alphabet by 15.3% during the first quarter. Stratos Investment Management LLC now owns 144,250 shares of the information services provider’s stock worth $22,307,000 after purchasing an additional 19,189 shares during the period. Blackhawk Capital Partners LLC. grew its stake in shares of Alphabet by 8.4% during the first quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock worth $4,832,000 after purchasing an additional 2,434 shares during the period. May Hill Capital LLC grew its stake in shares of Alphabet by 6.3% during the first quarter. May Hill Capital LLC now owns 7,256 shares of the information services provider’s stock worth $1,122,000 after purchasing an additional 430 shares during the period. Finally, Sierra Capital LLC grew its stake in shares of Alphabet by 3.1% during the first quarter. Sierra Capital LLC now owns 48,148 shares of the information services provider’s stock worth $7,446,000 after purchasing an additional 1,429 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOGL shares. JMP Securities raised Alphabet from a “market perform” rating to a “market outperform” rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Jefferies Financial Group decreased their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Needham & Company LLC reissued a “buy” rating and issued a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Truist Financial reissued a “buy” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.61.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares of the company’s stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,443 shares of company stock worth $36,298,548. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.8%

NASDAQ GOOGL opened at $181.56 on Tuesday. The business has a fifty day moving average price of $170.66 and a two-hundred day moving average price of $173.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.20 trillion, a PE ratio of 20.24, a PEG ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the prior year, the company earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

About Alphabet

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.