Granite Bay Wealth Management LLC Has $357,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Granite Bay Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 16.6% during the second quarter, Holdings Channel reports. The firm owned 1,962 shares of the information services provider’s stock after acquiring an additional 279 shares during the period. Granite Bay Wealth Management LLC’s holdings in Alphabet were worth $357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of 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 buying an additional 60 shares during the last quarter. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, August 30th. Truist Financial restated a “buy” rating and set a $196.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Argus increased their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Guggenheim boosted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Trading Up 0.1 %

NASDAQ GOOGL opened at $162.08 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business has a 50 day moving average price of $161.62 and a 200-day moving average price of $167.57. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the business posted $1.44 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced 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 was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,092 shares of company stock valued at $35,644,136. 11.55% of the stock is owned by corporate insiders.

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.