Semus Wealth Partners LLC Has $3.48 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Semus Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,523 shares of the information services provider’s stock after acquiring an additional 839 shares during the quarter. Alphabet comprises about 2.4% of Semus Wealth Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Semus Wealth Partners LLC’s holdings in Alphabet were worth $3,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. grew its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth about $3,119,000. Cypress Capital LLC lifted its stake in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC lifted its stake in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after buying an additional 403 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.4%

Shares of GOOGL opened at $189.13 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50-day simple moving average of $178.32 and a 200-day simple moving average of $172.82. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 1.01.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,399 shares of company stock valued at $43,525,794. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GOOGL shares. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Piper Sandler upped their target price on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Truist Financial restated a “buy” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Needham & Company LLC boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets increased their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $211.39.

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.