BCGM Wealth Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

BCGM Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the information services provider’s stock after purchasing an additional 200 shares during the quarter. BCGM Wealth Management LLC’s holdings in Alphabet were worth $492,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sovereign Financial Group Inc. lifted its position in Alphabet by 1.1% during the 4th quarter. Sovereign Financial Group Inc. now owns 36,565 shares of the information services provider’s stock worth $5,108,000 after acquiring an additional 399 shares during the period. Patrick M Sweeney & Associates Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $512,000. Balanced Wealth Group LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $517,000. Barlow Wealth Partners Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $2,343,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 179,367 shares of company stock valued at $30,016,931 in the last quarter. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley dropped their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Stifel Nicolaus restated a “buy” rating and set a $196.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $151.16 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $168.75 and a 200-day moving average of $164.42. 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 $1.86 trillion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.