REAP Financial Group LLC Boosts Stake in Alphabet Inc. $GOOGL

REAP Financial Group LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 58.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,138 shares of the information services provider’s stock after acquiring an additional 1,154 shares during the period. REAP Financial Group LLC’s holdings in Alphabet were worth $553,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new stake in Alphabet in the first quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $251.46 on Friday. 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 company’s 50-day simple moving average is $230.51 and its two-hundred day simple moving average is $190.95. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.96. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.78, a P/E/G ratio of 1.69 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 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid 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 dividend payout ratio (DPR) is 8.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOGL shares. Wedbush lifted their price objective on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Needham & Company LLC increased their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $250.57.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,872 shares of company stock valued at $46,980,865. Corporate 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.