Beverly Hills Private Wealth LLC Acquires 1,551 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Beverly Hills Private Wealth LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,845 shares of the information services provider’s stock after acquiring an additional 1,551 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Alphabet were worth $2,158,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter valued at about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the first quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $30,000. Finally, Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter worth about $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $162.73 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.96, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average price of $163.41 and a 200-day moving average price of $166.14. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the company posted $1.44 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current 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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 180,867 shares of company stock worth $29,878,106 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GOOGL shares. Bank of America raised their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley reduced their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Wolfe Research initiated coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.35.

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.