Defined Wealth Management LLC Has $497,000 Stock Position in Alphabet Inc. $GOOGL

Defined Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,820 shares of the information services provider’s stock after buying an additional 82 shares during the quarter. Defined Wealth Management LLC’s holdings in Alphabet were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Mystic Asset Management Inc. grew its holdings in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co boosted its position in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Cypress Capital LLC grew its stake in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC increased its holdings in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.0%

GOOGL stock opened at $252.03 on Friday. The stock’s 50 day simple moving average is $207.87 and its 200 day simple moving average is $179.73. The company has a market cap of $3.05 trillion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $253.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GOOGL shares. Royal Bank Of Canada boosted their price objective on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Wedbush raised their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. UBS Group lifted their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.51.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% of the company’s stock.

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.