1,264 Shares in Alphabet Inc. $GOOGL Purchased by Hubbell Strickland Wealth Management LLC

Hubbell Strickland Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,264 shares of the information services provider’s stock, valued at approximately $223,000.

A number of other institutional investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% in the 1st 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 position in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.2%

NASDAQ:GOOGL opened at $244.15 on Tuesday. The stock has a 50-day simple moving average of $227.30 and a 200-day simple moving average of $189.47. The stock has a market cap of $2.95 trillion, a P/E ratio of 26.00, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during 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 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,338 shares of company stock worth $59,062,683. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Cantor Fitzgerald lifted their price objective on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a report on Monday. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Canaccord Genuity Group boosted their price target on shares of Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Four equities research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.40.

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.