ZRC Wealth Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

ZRC Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,066 shares of the information services provider’s stock after acquiring an additional 282 shares during the period. Alphabet comprises approximately 1.7% of ZRC Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. ZRC Wealth Management LLC’s holdings in Alphabet were worth $3,991,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake 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 buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Jefferies Financial Group raised their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.13.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $164.96 on Tuesday. The stock’s 50-day simple moving average is $161.49 and its 200-day simple moving average is $167.96. 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 firm has a market capitalization of $2.04 trillion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. 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 (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $1.44 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced 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 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s 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 owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock valued at $35,644,136 in the last three months. 11.55% of the stock is currently owned by company 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.