Alphabet Inc. $GOOGL Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,512 shares of the information services provider’s stock after purchasing an additional 32,421 shares during the quarter. Alphabet makes up approximately 1.6% of Venturi Wealth Management LLC’s holdings, making the stock its 17th largest position. Venturi Wealth Management LLC’s holdings in Alphabet were worth $32,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TPG Financial Advisors LLC boosted its position in Alphabet by 4.2% during the 2nd quarter. TPG Financial Advisors LLC now owns 2,287 shares of the information services provider’s stock valued at $403,000 after purchasing an additional 92 shares during the period. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 112.4% during the second quarter. WestEnd Advisors LLC now owns 248,069 shares of the information services provider’s stock valued at $43,718,000 after acquiring an additional 131,267 shares during the period. BankPlus Trust Department boosted its holdings in shares of Alphabet by 16.5% during the second quarter. BankPlus Trust Department now owns 4,674 shares of the information services provider’s stock valued at $824,000 after acquiring an additional 662 shares during the period. First Financial Group Corp boosted its holdings in shares of Alphabet by 6.9% during the second quarter. First Financial Group Corp now owns 2,261 shares of the information services provider’s stock valued at $399,000 after acquiring an additional 145 shares during the period. Finally, High Note Wealth LLC increased its holdings in shares of Alphabet by 1.7% in the 2nd quarter. High Note Wealth LLC now owns 50,138 shares of the information services provider’s stock worth $8,836,000 after acquiring an additional 836 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.2%

Shares of GOOGL stock opened at $251.46 on Friday. The business’s fifty day moving average is $230.51 and its 200-day moving average is $190.95. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The stock has a market cap of $3.04 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Citigroup boosted their price objective on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Susquehanna boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $288.00 target price on shares of Alphabet in a research note on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $250.57.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 210,872 shares of company stock worth $46,980,865. Company insiders own 11.64% of the company’s stock.

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.