Spectrum Wealth Advisory Group LLC Invests $218,000 in Alphabet Inc. (NASDAQ:GOOGL)

Spectrum Wealth Advisory Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,199 shares of the information services provider’s stock, valued at approximately $218,000.

Several other institutional investors have also recently bought and sold shares of GOOGL. Capital Research Global Investors grew its holdings in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. Third Point LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $452,790,000. Finally, Global Assets Advisory LLC lifted its stake in shares of Alphabet by 15,351.0% in the 1st quarter. Global Assets Advisory LLC now owns 2,304,517 shares of the information services provider’s stock valued at $347,821,000 after acquiring an additional 2,289,602 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on 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 in the company, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction 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 directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold 180,867 shares of company stock valued at $29,878,106 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $162.29 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The business has a fifty day moving average of $163.80 and a two-hundred day moving average of $166.17. The company has a market cap of $2.01 trillion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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 business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business earned $1.44 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Morgan Stanley decreased their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group lifted their price objective on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Royal Bank of Canada upped their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet 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.