Pursue Wealth Partners LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pursue Wealth Partners LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 24.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,975 shares of the information services provider’s stock after buying an additional 1,187 shares during the quarter. Pursue Wealth Partners LLC’s holdings in Alphabet were worth $1,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Christopher J. Hasenberg Inc raised its stake in 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 acquiring an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised 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 acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.8 %

NASDAQ GOOGL opened at $159.32 on Wednesday. The company’s 50-day moving average price is $166.25 and its 200-day moving average price is $165.17. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.97 trillion, a PE ratio of 24.44, a PEG 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.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the business posted $1.44 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,167 shares of company stock worth $30,139,931. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a report on Monday. Cantor Fitzgerald began coverage on shares of Alphabet in a report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

About Alphabet

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.