PCG Wealth Advisors LLC Buys 247 Shares of Alphabet Inc. $GOOGL

PCG Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,475 shares of the information services provider’s stock after purchasing an additional 247 shares during the quarter. PCG Wealth Advisors LLC’s holdings in Alphabet were worth $789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Gimbal Financial grew its holdings in Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares during the last quarter. Missouri Trust & Investment Co boosted its holdings in shares of Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the period. Silver Coast Investments LLC grew its stake in shares of Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Finally, Bfsg LLC increased its holdings in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 3.5%

Shares of Alphabet stock opened at $299.66 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $306.42. The firm has a market cap of $3.62 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. The company has a 50-day moving average of $262.39 and a 200 day moving average of $213.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. CIBC increased their price objective on Alphabet to $315.00 in a report on Monday, October 20th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. CICC Research upped their price objective on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. KeyCorp reaffirmed an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Finally, Truist Financial boosted their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,174 shares of company stock valued at $58,095,223 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

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.