Flywheel Private Wealth LLC Takes $338,000 Position in Alphabet Inc. $GOOGL

Flywheel Private Wealth LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,920 shares of the information services provider’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.1%

GOOGL stock opened at $245.35 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 twelve month low of $140.53 and a twelve month high of $256.00. The company’s 50 day moving average is $221.25 and its two-hundred day moving average is $185.80. The stock has a market cap of $2.97 trillion, a P/E ratio of 26.13, a PEG ratio of 1.66 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. Susquehanna raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Wolfe Research raised their target price on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Finally, Morgan Stanley set a $270.00 target price on shares of Alphabet and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.76.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. Insiders own 11.64% of the company’s stock.

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.