224 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Denver PWM LLC

Denver PWM LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 224 shares of the information services provider’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Defined Wealth Management LLC boosted its stake in Alphabet by 5.6% in the 2nd quarter. Defined Wealth Management LLC now owns 2,712 shares of the information services provider’s stock worth $494,000 after purchasing an additional 145 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in Alphabet by 610.4% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 411,936 shares of the information services provider’s stock worth $75,034,000 after purchasing an additional 353,949 shares during the period. Altus Wealth Group LLC lifted its position in Alphabet by 2.3% in the 2nd quarter. Altus Wealth Group LLC now owns 13,482 shares of the information services provider’s stock worth $2,456,000 after buying an additional 307 shares in the last quarter. Peterson Wealth Management lifted its position in Alphabet by 12.4% in the 2nd quarter. Peterson Wealth Management now owns 16,247 shares of the information services provider’s stock worth $2,959,000 after buying an additional 1,794 shares in the last quarter. Finally, Columbia Asset Management lifted its position in Alphabet by 0.6% in the 2nd quarter. Columbia Asset Management now owns 90,158 shares of the information services provider’s stock worth $16,422,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $162.14 on Friday. The firm’s 50-day moving average is $165.15 and its 200-day moving average is $165.11. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. 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 company has a market cap of $2.00 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm posted $1.44 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current 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 paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Argus increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald assumed coverage on shares of Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price for the company. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock valued at $29,762,606 over the last quarter. 11.55% of the stock is owned by company insiders.

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.