Leo Wealth LLC Buys 3,658 Shares of Alphabet Inc. $GOOGL

Leo Wealth LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 28,616 shares of the information services provider’s stock after acquiring an additional 3,658 shares during the period. Leo Wealth LLC’s holdings in Alphabet were worth $5,031,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. MSH Capital Advisors LLC grew its position in Alphabet by 1.0% in the 2nd quarter. MSH Capital Advisors LLC now owns 11,875 shares of the information services provider’s stock valued at $2,093,000 after acquiring an additional 116 shares during the last quarter. Wealth Advisors Northwest LLC bought a new position in Alphabet in the 2nd quarter valued at $260,000. Armstrong Fleming & Moore Inc grew its position in Alphabet by 438.6% in the 2nd quarter. Armstrong Fleming & Moore Inc now owns 7,174 shares of the information services provider’s stock valued at $1,264,000 after acquiring an additional 5,842 shares during the last quarter. Tectonic Advisors LLC grew its position in Alphabet by 17.5% in the 2nd quarter. Tectonic Advisors LLC now owns 9,770 shares of the information services provider’s stock valued at $1,722,000 after acquiring an additional 1,453 shares during the last quarter. Finally, Columbus Macro LLC grew its position in Alphabet by 10.1% in the 2nd quarter. Columbus Macro LLC now owns 3,117 shares of the information services provider’s stock valued at $549,000 after acquiring an additional 286 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’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 completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.7%

GOOGL opened at $253.30 on Friday. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.71 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.96. The stock has a fifty day moving average price of $231.55 and a 200-day moving average price of $191.85.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given 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 presently 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. Barclays upped their price objective on Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Wolfe Research upped their price objective on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Citizens Jmp lifted their target price on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Loop Capital reaffirmed a “hold” rating and set a $190.00 target price (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.24.

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.