Wealth Dimensions Group Ltd. Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Wealth Dimensions Group Ltd. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,782 shares of the information services provider’s stock after buying an additional 159 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Alphabet were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nebula Research & Development LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $787,000. New Hampshire Trust lifted its holdings in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP lifted its holdings in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Alphabet by 11.5% in the 4th quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after buying an additional 200,891 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.95 on Monday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business’s 50-day moving average price is $162.83 and its 200 day moving average price is $166.68. The firm has a market cap of $2.03 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 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 quarter last year, the company posted $1.44 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction 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 approximately $403,141,173.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction 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. In the last three months, insiders sold 177,605 shares of company stock worth $29,277,931. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOGL shares. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Royal Bank of Canada boosted their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price target on shares of Alphabet in a report on Monday, September 16th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. Eight investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.35.

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.