Alphabet Inc. $GOOGL Shares Bought by Drake & Associates LLC

Drake & Associates LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,542 shares of the information services provider’s stock after buying an additional 132 shares during the quarter. Drake & Associates LLC’s holdings in Alphabet were worth $801,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOOGL. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. GAMMA Investing LLC raised its stake in shares of Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after buying an additional 9,900 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Alphabet by 4.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,508,914 shares of the information services provider’s stock worth $387,979,000 after buying an additional 106,082 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Alphabet by 8.0% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 133,996 shares of the information services provider’s stock worth $21,056,000 after buying an additional 9,876 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.5%

Shares of GOOGL opened at $245.45 on Wednesday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a market capitalization of $2.97 trillion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The stock has a fifty day simple moving average of $228.31 and a two-hundred day simple moving average of $189.86. 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 issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Mizuho set a $295.00 price objective on Alphabet and gave the company an “outperform” rating in a report on Monday, September 29th. BNP Paribas Exane restated a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Finally, Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Four 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.26.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated 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 of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 243,838 shares of company stock worth $53,070,333. 11.55% of the stock is owned by corporate insiders.

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.