AAF Wealth Management LLC Buys 844 Shares of Alphabet Inc. (NASDAQ:GOOGL)

AAF Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 27.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,917 shares of the information services provider’s stock after acquiring an additional 844 shares during the period. Alphabet accounts for about 0.4% of AAF Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. AAF Wealth Management LLC’s holdings in Alphabet were worth $713,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Bank of America lifted their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Argus lifted their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Trading Up 1.8 %

GOOGL stock opened at $157.46 on Friday. The company has a market cap of $1.94 trillion, a P/E ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $167.46 and a 200-day moving average of $164.49.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders sold a total of 179,367 shares of company stock worth $30,016,931 over the last 90 days. 11.55% of the stock is owned by insiders.

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.