Alphabet Inc. $GOOGL Shares Bought by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,644 shares of the information services provider’s stock after acquiring an additional 497 shares during the period. Alphabet comprises about 3.9% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 8th biggest holding. Wells Trecaso Financial Group LLC’s holdings in Alphabet were worth $12,626,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Sava Infond d.o.o. grew its stake in shares of Alphabet by 9.1% during the second quarter. Sava Infond d.o.o. now owns 140,790 shares of the information services provider’s stock valued at $24,811,000 after acquiring an additional 11,700 shares in the last quarter. Apexium Financial LP grew its stake in shares of Alphabet by 0.3% during the second quarter. Apexium Financial LP now owns 59,989 shares of the information services provider’s stock valued at $10,572,000 after acquiring an additional 179 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Alphabet by 1.2% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 6,730 shares of the information services provider’s stock valued at $1,186,000 after acquiring an additional 77 shares in the last quarter. Pflug Koory LLC grew its stake in shares of Alphabet by 8.4% during the second quarter. Pflug Koory LLC now owns 11,159 shares of the information services provider’s stock valued at $1,967,000 after acquiring an additional 869 shares in the last quarter. Finally, NTV Asset Management LLC grew its stake in shares of Alphabet by 1.9% during the second quarter. NTV Asset Management LLC now owns 44,728 shares of the information services provider’s stock valued at $7,882,000 after acquiring an additional 829 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Westpark Capital raised their target price on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. DA Davidson raised their target price on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Moffett Nathanson lifted their price target on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Wedbush lifted 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. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.88.

Alphabet Stock Performance

Shares of GOOGL stock opened at $236.57 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $226.31 and a two-hundred day moving average of $188.66. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a market cap of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 11.64% of the company’s stock.

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.