Opes Wealth Management LLC Has $1.37 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Opes Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,501 shares of the information services provider’s stock after purchasing an additional 107 shares during the period. Opes Wealth Management LLC’s holdings in Alphabet were worth $1,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. First National Advisers LLC lifted its holdings in shares of Alphabet by 20.9% during the fourth quarter. First National Advisers LLC now owns 18,760 shares of the information services provider’s stock worth $2,621,000 after buying an additional 3,244 shares in the last quarter. Bey Douglas LLC bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $8,028,000. Matisse Capital grew its holdings in shares of Alphabet by 13.7% during the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after purchasing an additional 2,026 shares in the last quarter. New Century Financial Group LLC acquired a new stake in Alphabet during the fourth quarter worth about $2,675,000. Finally, WT Wealth Management bought a new position in Alphabet in the fourth quarter valued at approximately $270,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $29,762,606 in the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.9 %

NASDAQ:GOOGL opened at $163.59 on Friday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a 50-day moving average price of $164.72 and a two-hundred day moving average price of $165.32. 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 cap of $2.02 trillion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced 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. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm posted $1.44 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a report on Monday, September 16th. TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Argus lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eight 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.