Diversify Wealth Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Diversify Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,886 shares of the information services provider’s stock, valued at approximately $2,347,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors increased its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Bank of New York Mellon Corp raised its position in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Alphabet by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock valued at $6,310,925,000 after buying an additional 1,429,261 shares during the period. Finally, Capital World Investors grew its position in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after buying an additional 597,756 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.35.

Alphabet Stock Up 0.7 %

GOOGL stock opened at $163.95 on Friday. 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 company’s 50-day moving average price is $162.83 and its 200 day moving average price is $166.49. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a market cap of $2.03 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Alphabet Company 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.