Alphabet Inc. $GOOGL Shares Acquired by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 230.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,146 shares of the information services provider’s stock after buying an additional 113,724 shares during the period. Alphabet accounts for about 2.3% of GC Wealth Management RIA LLC’s investment portfolio, making the stock its 8th biggest position. GC Wealth Management RIA LLC’s holdings in Alphabet were worth $28,751,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted 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. Rhumbline Advisers grew its holdings in shares of Alphabet by 0.8% during the first quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock worth $1,742,444,000 after purchasing an additional 86,670 shares during the last quarter. MKT Advisors LLC grew its holdings in shares of Alphabet by 2.6% during the first quarter. MKT Advisors LLC now owns 7,589 shares of the information services provider’s stock worth $1,114,000 after purchasing an additional 195 shares during the last quarter. Finally, Sandbox Financial Partners LLC increased its stake in shares of Alphabet by 0.5% in the first quarter. Sandbox Financial Partners LLC now owns 16,160 shares of the information services provider’s stock valued at $2,499,000 after buying an additional 73 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last three months. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.1%

NASDAQ GOOGL opened at $245.35 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a 50-day simple moving average of $221.25 and a 200 day simple moving average of $185.96. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on GOOGL shares. Mizuho set a $295.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. UBS Group upped their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Loop Capital reissued a “hold” rating and set a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Finally, Barclays boosted their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Four 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.76.

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.