New Wave Wealth Advisors LLC Invests $1.08 Million in Alphabet Inc. (NASDAQ:GOOGL)

New Wave Wealth Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,929 shares of the information services provider’s stock, valued at approximately $1,080,000.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. MorganRosel Wealth Management LLC grew its position in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC grew its position in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its holdings in shares of 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. Joseph P. Lucia & Associates LLC increased its stake in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after acquiring an additional 64 shares during the period. Finally, Sunflower Bank N.A. increased its stake in shares of Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after acquiring an additional 65 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Monday, September 30th. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Finally, Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $200.95.

Alphabet Price Performance

Shares of GOOGL opened at $163.24 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock has a market cap of $2.01 trillion, a PE ratio of 23.42, a P/E/G ratio of 1.21 and a beta of 1.04. The firm has a 50-day simple moving average of $161.37 and a two-hundred day simple moving average of $167.63. 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 announced its quarterly 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 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 analysts’ expectations of $70.60 billion. During the same period last year, the business earned $1.44 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 11.48%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,092 shares of company stock worth $35,644,136. Corporate insiders own 11.55% of the company’s stock.

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.