Alphabet Inc. $GOOGL Shares Purchased by Orca Wealth Management LLC

Orca Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,041 shares of the information services provider’s stock after buying an additional 104 shares during the period. Alphabet makes up approximately 1.3% of Orca Wealth Management LLC’s holdings, making the stock its 28th largest position. Orca Wealth Management LLC’s holdings in Alphabet were worth $1,593,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted 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 stake in Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% in the first 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 during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on GOOGL. Royal Bank Of Canada raised their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Monday, September 29th. Piper Sandler lifted their price target on shares of Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Cantor Fitzgerald lifted their price objective on Alphabet from $201.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday. Finally, KeyCorp lifted their price objective on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.40.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on 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 owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This represents a 1.29% 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 valued at $59,062,683. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $244.15 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock 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 business has a fifty day moving average of $227.30 and a 200-day moving average of $189.47. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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, topping 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. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors 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 yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

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.