Luminvest Wealth Management LLC Purchases 121 Shares of Alphabet Inc. $GOOGL

Luminvest Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,368 shares of the information services provider’s stock after purchasing an additional 121 shares during the quarter. Luminvest Wealth Management LLC’s holdings in Alphabet were worth $417,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Hengehold Capital Management LLC grew its stake in shares of Alphabet by 2.8% during the second quarter. Hengehold Capital Management LLC now owns 8,512 shares of the information services provider’s stock worth $1,500,000 after acquiring an additional 229 shares during the last quarter. Ariose Capital Management Ltd grew its stake in shares of Alphabet by 89.1% during the second quarter. Ariose Capital Management Ltd now owns 135,000 shares of the information services provider’s stock worth $23,948,000 after acquiring an additional 63,600 shares during the last quarter. Consolidated Capital Management LLC grew its stake in shares of Alphabet by 3.1% during the second quarter. Consolidated Capital Management LLC now owns 40,643 shares of the information services provider’s stock worth $7,163,000 after acquiring an additional 1,210 shares during the last quarter. Chatham Capital Group Inc. grew its stake in shares of Alphabet by 1.9% during the second quarter. Chatham Capital Group Inc. now owns 6,601 shares of the information services provider’s stock worth $1,163,000 after acquiring an additional 120 shares during the last quarter. Finally, Sage Rhino Capital LLC grew its stake in shares of Alphabet by 13.4% during the second quarter. Sage Rhino Capital LLC now owns 12,213 shares of the information services provider’s stock worth $2,152,000 after acquiring an additional 1,445 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. Wedbush boosted their price target on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Stifel Nicolaus boosted their price target on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Canaccord Genuity Group boosted their price target on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Tigress Financial boosted their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Finally, Jefferies Financial Group boosted their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $240.76.

Alphabet Trading Up 0.3%

Alphabet stock opened at $245.69 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock’s 50 day simple moving average is $220.21 and its two-hundred day simple moving average is $185.22. The firm has a market cap of $2.97 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Alphabet Company 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.