Well Done LLC Acquires 365 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Well Done LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,989 shares of the information services provider’s stock after acquiring an additional 365 shares during the period. Well Done LLC’s holdings in Alphabet were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Tennessee Valley Asset Management Partners bought a new stake in Alphabet in the 4th quarter worth about $100,000. Macroview Investment Management LLC grew its position in Alphabet by 267.7% in the 4th quarter. Macroview Investment Management LLC now owns 1,173 shares of the information services provider’s stock worth $164,000 after purchasing an additional 854 shares in the last quarter. Allen Capital Group LLC grew its position in Alphabet by 3.8% in the 4th quarter. Allen Capital Group LLC now owns 37,111 shares of the information services provider’s stock worth $5,184,000 after purchasing an additional 1,368 shares in the last quarter. Arbor Trust Wealth Advisors LLC grew its position in Alphabet by 1.7% in the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 28,162 shares of the information services provider’s stock worth $3,934,000 after purchasing an additional 465 shares in the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in Alphabet in the 4th quarter worth about $2,451,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, August 14th. Tigress Financial boosted their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Monday, July 22nd. Finally, UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $163.80 on Friday. The company’s fifty day moving average price is $174.96 and its 200-day moving average price is $162.89. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm earned $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,565 shares of company stock valued at $26,823,893. Insiders own 11.55% of the company’s stock.

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.