Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Abound Wealth Management

Abound Wealth Management grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,739 shares of the information services provider’s stock after acquiring an additional 127 shares during the quarter. Abound Wealth Management’s holdings in Alphabet were worth $499,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TFO Wealth Partners LLC raised its position in Alphabet by 5,791.1% in the fourth quarter. TFO Wealth Partners LLC now owns 91,018 shares of the information services provider’s stock worth $12,714,000 after acquiring an additional 89,473 shares in the last quarter. New Republic Capital LLC grew its stake in Alphabet by 29.0% during the 4th quarter. New Republic Capital LLC now owns 7,576 shares of the information services provider’s stock valued at $1,058,000 after acquiring an additional 1,704 shares in the last quarter. Private Wealth Strategies L.L.C. grew its stake in Alphabet by 3.8% during the 4th quarter. Private Wealth Strategies L.L.C. now owns 2,764 shares of the information services provider’s stock valued at $386,000 after acquiring an additional 100 shares in the last quarter. First Pacific Advisors LP grew its stake in Alphabet by 0.7% during the 4th quarter. First Pacific Advisors LP now owns 3,199,616 shares of the information services provider’s stock valued at $446,954,000 after acquiring an additional 21,698 shares in the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new position in Alphabet during the 4th quarter valued at about $4,986,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Roth Mkm reaffirmed a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. UBS Group increased their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Argus upped their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’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 transaction, 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 document filed with the SEC, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 177,605 shares of company stock valued at $29,277,931 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of GOOGL opened at $163.95 on Monday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a 50-day moving average of $162.83 and a 200 day moving average of $166.68. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.21 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 posted its quarterly earnings results 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. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the business posted $1.44 EPS. On average, research analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

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