Adero Partners LLC Buys 1,161 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Adero Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,827 shares of the information services provider’s stock after acquiring an additional 1,161 shares during the quarter. Adero Partners LLC’s holdings in Alphabet were worth $7,072,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GOOGL. WMG Financial Advisors LLC lifted its stake in shares of Alphabet by 18.7% in the second quarter. WMG Financial Advisors LLC now owns 3,069 shares of the information services provider’s stock worth $559,000 after buying an additional 483 shares in the last quarter. Centerpoint Advisors LLC raised its holdings in Alphabet by 2.2% in the 2nd quarter. Centerpoint Advisors LLC now owns 29,416 shares of the information services provider’s stock worth $5,358,000 after acquiring an additional 630 shares during the last quarter. International Assets Investment Management LLC lifted its position in Alphabet by 3.7% in the 2nd quarter. International Assets Investment Management LLC now owns 43,483 shares of the information services provider’s stock valued at $7,920,000 after acquiring an additional 1,550 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Alphabet by 1.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 821,295 shares of the information services provider’s stock valued at $149,599,000 after purchasing an additional 10,899 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its holdings in shares of Alphabet by 117.4% in the 2nd quarter. Atlas Capital Advisors LLC now owns 38,995 shares of the information services provider’s stock worth $7,103,000 after purchasing an additional 21,054 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $148.71 on Tuesday. The stock has a 50-day moving average price of $170.17 and a 200 day moving average price of $164.48. The stock has a market capitalization of $1.83 trillion, a P/E ratio of 22.81, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The disclosure for this sale can be found here. Insiders have sold a total of 178,032 shares of company stock worth $29,854,224 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald assumed coverage on shares of Alphabet in a report on Thursday, September 5th. They set a “neutral” rating and a $190.00 price target on the stock. TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Piper Sandler increased their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $202.81.

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.