Alphabet Inc. $GOOGL Stock Holdings Boosted by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,680 shares of the information services provider’s stock after purchasing an additional 84 shares during the period. IVC Wealth Advisors LLC’s holdings in Alphabet were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mystic Asset Management Inc. grew its stake in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co grew its stake in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Cypress Capital LLC grew its position in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC grew its position in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Morgan Stanley set a $270.00 target price on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Citizens Jmp increased their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Moffett Nathanson increased their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. 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. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.40.

Alphabet Trading Up 3.2%

NASDAQ:GOOGL opened at $244.15 on Tuesday. 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 Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The firm has a market capitalization 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 stock has a fifty day simple moving average of $227.30 and a 200 day simple moving average of $189.47.

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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

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.