Precedent Wealth Partners LLC Has $740,000 Holdings in Alphabet Inc. $GOOGL

Precedent Wealth Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,198 shares of the information services provider’s stock after acquiring an additional 381 shares during the period. Precedent Wealth Partners LLC’s holdings in Alphabet were worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Brighton Jones LLC grew its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. GAMMA Investing LLC grew its position in Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after acquiring an additional 9,900 shares during the last quarter. West Oak Capital LLC grew its position in Alphabet by 4.2% during the 1st quarter. West Oak Capital LLC now owns 3,235 shares of the information services provider’s stock worth $500,000 after acquiring an additional 130 shares during the last quarter. Finally, Accordant Advisory Group Inc bought a new stake in Alphabet during the 1st quarter worth $193,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

GOOGL stock opened at $236.57 on Friday. The stock’s 50 day simple moving average is $226.31 and its 200 day simple moving average is $188.66. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.86 trillion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued 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. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho set a $295.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Monday, September 29th. Tigress Financial upped their price target on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, September 5th. Piper Sandler upped their price target on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Loop Capital reiterated a “hold” rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.88.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.64% of the company’s stock.

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.