Simplicity Wealth LLC Has $8.79 Million Stock Holdings in Alphabet Inc. $GOOGL

Simplicity Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 48.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,889 shares of the information services provider’s stock after buying an additional 16,308 shares during the period. Simplicity Wealth LLC’s holdings in Alphabet were worth $8,792,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OLD National Bancorp IN grew its stake in Alphabet by 8.6% in the second quarter. OLD National Bancorp IN now owns 470,764 shares of the information services provider’s stock valued at $82,963,000 after acquiring an additional 37,174 shares during the period. Olistico Wealth LLC lifted its holdings in shares of Alphabet by 5.7% in the 2nd quarter. Olistico Wealth LLC now owns 11,325 shares of the information services provider’s stock worth $1,996,000 after purchasing an additional 615 shares in the last quarter. Sutton Place Investors LLC grew its position in Alphabet by 19.3% in the 2nd quarter. Sutton Place Investors LLC now owns 5,247 shares of the information services provider’s stock valued at $925,000 after purchasing an additional 847 shares during the period. Wealthcare Capital Partners LLC bought a new stake in Alphabet during the 2nd quarter valued at $238,000. Finally, Wealthcare Advisory Partners LLC raised its holdings in Alphabet by 7.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 61,121 shares of the information services provider’s stock worth $10,771,000 after buying an additional 4,246 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GOOGL shares. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Royal Bank Of Canada lifted their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. KeyCorp lifted their price target on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Bank of America lifted their target price on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.40.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,338 shares of company stock worth $59,062,683. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 3.2%

GOOGL stock opened at $244.15 on Tuesday. The stock’s fifty day simple moving average is $227.30 and its two-hundred day simple moving average is $189.47. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. 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.

Alphabet (NASDAQ:GOOGL) last issued 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. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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 was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Alphabet 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.