Berry Wealth Group LP Has $995,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Berry Wealth Group LP lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,461 shares of the information services provider’s stock after acquiring an additional 955 shares during the quarter. Alphabet makes up approximately 0.8% of Berry Wealth Group LP’s portfolio, making the stock its 29th biggest position. Berry Wealth Group LP’s holdings in Alphabet were worth $995,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet in the 4th quarter worth about $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter worth about $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth about $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $157.46 on Friday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The business has a fifty day simple moving average of $167.46 and a two-hundred day simple moving average of $164.49. The company has a market capitalization of $1.94 trillion, a P/E ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04. 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 released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 EPS. On average, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, Morgan Stanley decreased their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Eight equities research 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. 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 three months. 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.