Alphabet Inc. (NASDAQ:GOOGL) is HCR Wealth Advisors’ 9th Largest Position

HCR Wealth Advisors boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,756 shares of the information services provider’s stock after buying an additional 1,324 shares during the quarter. Alphabet makes up approximately 2.5% of HCR Wealth Advisors’ portfolio, making the stock its 9th biggest position. HCR Wealth Advisors’ holdings in Alphabet were worth $17,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Nebula Research & Development LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $787,000. New Hampshire Trust lifted its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. bought a new stake in Alphabet in the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP lifted its position in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its position in Alphabet by 14.5% in the fourth quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock valued at $3,046,000 after purchasing an additional 2,763 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GOOGL. UBS Group boosted their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Loop Capital reiterated a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a research report on Wednesday, July 3rd. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. Finally, Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’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 sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,167 shares of company stock worth $29,762,606. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.9 %

NASDAQ GOOGL opened at $163.59 on Monday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The stock’s fifty day moving average price is $164.72 and its 200-day moving average price is $165.79. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio 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.