PUREfi Wealth LLC Grows Position in Alphabet Inc. $GOOGL

PUREfi Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 21.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,269 shares of the information services provider’s stock after purchasing an additional 757 shares during the period. PUREfi Wealth LLC’s holdings in Alphabet were worth $752,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOGL shares. KeyCorp lifted their target price on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday. Finally, Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $249.26.

Alphabet Stock Performance

Shares of GOOGL opened at $245.45 on Wednesday. The stock has a 50-day moving average of $228.31 and a two-hundred day moving average of $189.86. Alphabet Inc. has a one year low of $140.53 and a one year 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 stock has a market cap of $2.97 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 of this dividend was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated 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 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 quarter, insiders sold 243,838 shares of company stock worth $53,070,333. Corporate insiders own 11.55% of the company’s stock.

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.