Hedeker Wealth LLC Has $9.46 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hedeker Wealth LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 51,941 shares of the information services provider’s stock after selling 1,203 shares during the quarter. Alphabet accounts for about 2.7% of Hedeker Wealth LLC’s holdings, making the stock its 8th largest holding. Hedeker Wealth LLC’s holdings in Alphabet were worth $9,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $38,000. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC increased its stake in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,565 shares of company stock valued at $26,823,893. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Evercore ISI raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Truist Financial increased their price objective on Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Raymond James boosted their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Stock Up 1.1 %

GOOGL stock opened at $165.62 on Friday. 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 Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.28 and a beta of 1.05. The business has a fifty day moving average price of $174.73 and a 200-day moving average price of $163.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations 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 business earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business 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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

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.