BLVD Private Wealth LLC Makes New $529,000 Investment in Alphabet Inc. $GOOG

BLVD Private Wealth LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,981 shares of the information services provider’s stock, valued at approximately $529,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. IFS Advisors LLC increased its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley grew its position in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC raised its holdings in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, University of Illinois Foundation acquired a new position in Alphabet during the second quarter worth $31,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the sale, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the completion of the transaction, the chief accounting officer owned 11,740 shares in the company, valued at approximately $3,721,580. The trade was a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 225,528 shares of company stock worth $61,296,884. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Mizuho set a $325.00 price objective on shares of Alphabet in a report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price target on shares of Alphabet in a research note on Thursday, October 30th. BNP Paribas assumed coverage on Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating for the company. KeyCorp restated an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a report on Thursday, October 30th. Finally, Piper Sandler upped their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $313.04.

Alphabet Trading Down 1.0%

Shares of Alphabet stock opened at $310.52 on Monday. The firm has a market cap of $3.75 trillion, a PE ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a fifty day moving average price of $283.75 and a 200-day moving average price of $230.73.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the firm earned $2.12 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.