Bulltick Wealth Management LLC Has $10.95 Million Stake in Alphabet Inc. $GOOGL

Bulltick Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,142 shares of the information services provider’s stock after buying an additional 7,799 shares during the quarter. Alphabet comprises 2.7% of Bulltick Wealth Management LLC’s portfolio, making the stock its 8th biggest holding. Bulltick Wealth Management LLC’s holdings in Alphabet were worth $10,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOOGL. Nuveen LLC purchased a new position in Alphabet during the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after buying an additional 4,224,497 shares in the last quarter. Finally, Amundi boosted its holdings in Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the sale, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This trade represents a 19.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 225,072 shares of company stock valued at $58,074,027. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GOOGL shares. CIBC boosted their price objective on Alphabet to $315.00 in a research report on Monday, October 20th. Wedbush reissued an “outperform” rating and issued a $320.00 price target (up from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Citic Securities upped their price target on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Barclays reissued an “overweight” rating and issued a $315.00 target price (up previously from $250.00) on shares of Alphabet in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Trading Up 0.0%

Shares of GOOGL opened at $320.02 on Friday. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05. The company’s fifty day moving average is $269.25 and its 200 day moving average is $218.76. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Sell-side analysts expect 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 will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

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.