Wealth Alliance Has $6.57 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Wealth Alliance cut its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,091 shares of the information services provider’s stock after selling 1,248 shares during the period. Alphabet accounts for approximately 0.8% of Wealth Alliance’s investment portfolio, making the stock its 17th biggest holding. Wealth Alliance’s holdings in Alphabet were worth $6,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter valued at about $30,000. Finally, Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at about $41,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders sold a total of 193,725 shares of company stock worth $31,933,031 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.7 %

Shares of GOOGL opened at $166.99 on Wednesday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock has a market cap of $2.06 trillion, a PE ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $162.22 and its 200-day moving average price is $167.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the company posted $1.44 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson initiated coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, September 25th. Finally, Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.35.

View Our Latest Research Report on GOOGL

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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