Weaver Capital Management LLC Acquires 1,124 Shares of Alphabet Inc. $GOOGL

Weaver Capital Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,355 shares of the information services provider’s stock after acquiring an additional 1,124 shares during the quarter. Weaver Capital Management LLC’s holdings in Alphabet were worth $1,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Brighton Jones LLC boosted its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. GAMMA Investing LLC boosted its position in Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock valued at $16,062,000 after buying an additional 9,900 shares in the last quarter. Wells Trecaso Financial Group LLC boosted its position in Alphabet by 0.9% in the first quarter. Wells Trecaso Financial Group LLC now owns 71,147 shares of the information services provider’s stock valued at $11,002,000 after buying an additional 605 shares in the last quarter. Finally, Hoge Financial Services LLC boosted its position in Alphabet by 11.6% in the first quarter. Hoge Financial Services LLC now owns 2,343 shares of the information services provider’s stock valued at $362,000 after buying an additional 243 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $253.30 on Friday. The firm has a 50 day simple moving average of $231.55 and a 200 day simple moving average of $191.85. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.96. The firm has a market cap of $3.06 trillion, a P/E ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced 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 business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed 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 yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOGL shares. BMO Capital Markets set a $294.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Moffett Nathanson boosted their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Piper Sandler boosted their price target on shares of Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Wells Fargo & Company set a $236.00 target price on shares of Alphabet and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Needham & Company LLC raised their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.24.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 11.64% of the stock is currently owned by insiders.

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.