Berkshire Money Management Inc. Has $674,000 Stock Position in Alphabet Inc. $GOOGL

Berkshire Money Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,826 shares of the information services provider’s stock after selling 811 shares during the quarter. Berkshire Money Management Inc.’s holdings in Alphabet were worth $674,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Gratus Wealth Advisors LLC boosted its position in Alphabet by 7.2% during the 2nd quarter. Gratus Wealth Advisors LLC now owns 3,248 shares of the information services provider’s stock worth $572,000 after acquiring an additional 217 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Alphabet by 0.9% in the second quarter. Valley National Advisers Inc. now owns 19,670 shares of the information services provider’s stock valued at $3,466,000 after buying an additional 177 shares in the last quarter. Autumn Glory Partners LLC increased its holdings in Alphabet by 4.4% during the second quarter. Autumn Glory Partners LLC now owns 21,019 shares of the information services provider’s stock worth $3,704,000 after buying an additional 882 shares during the last quarter. Fishman Jay A Ltd. MI increased its holdings in Alphabet by 1.8% during the second quarter. Fishman Jay A Ltd. MI now owns 401,372 shares of the information services provider’s stock worth $70,734,000 after buying an additional 7,134 shares during the last quarter. Finally, PUREfi Wealth LLC increased its holdings in Alphabet by 21.6% during the second quarter. PUREfi Wealth LLC now owns 4,269 shares of the information services provider’s stock worth $752,000 after buying an additional 757 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,838 shares of company stock valued at $53,070,333. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Roth Capital boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Piper Sandler boosted their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Four research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.26.

Alphabet Price Performance

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 debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s 50 day moving average price is $228.31 and its two-hundred day moving average price is $189.86. The firm has a market cap 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.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm 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%. On average, equities analysts anticipate 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. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 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.