Alphabet Inc. $GOOGL Position Lifted by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,032 shares of the information services provider’s stock after purchasing an additional 745 shares during the quarter. Alphabet comprises approximately 3.5% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 7th biggest holding. Glass Wealth Management Co LLC’s holdings in Alphabet were worth $6,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new position in Alphabet in the 1st quarter worth about $4,317,606,000. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the period. Amundi raised its stake in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its position in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $244.15 on Tuesday. 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 $2.95 trillion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. 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 company has a fifty day simple moving average of $227.30 and a two-hundred day simple moving average of $189.47.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. BNP Paribas Exane reissued a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Melius Research increased their target price on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Canaccord Genuity Group increased their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.40.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction 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 completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock worth $59,062,683 in the last 90 days. Corporate insiders own 11.55% 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.