Wealthfront Advisers LLC Raises Stock Position in Alphabet Inc. $GOOGL

Wealthfront Advisers LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 699,842 shares of the information services provider’s stock after buying an additional 59,962 shares during the quarter. Wealthfront Advisers LLC’s holdings in Alphabet were worth $123,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gimbal Financial grew its position in shares of Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co raised its stake in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC lifted its position in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares in the last quarter. Bfsg LLC increased its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. Finally, Financial Council LLC lifted its holdings in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after purchasing an additional 60 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,896 shares of company stock worth $44,892,175 in the last quarter. Insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Mizuho set a $325.00 price objective on Alphabet in a research note on Thursday, October 30th. Needham & Company LLC raised their target price on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wolfe Research reaffirmed an “outperform” rating and set a $350.00 target price (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Susquehanna raised their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. Finally, Citic Securities upped their price target on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $284.75 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $3.44 trillion, a PE ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a fifty day moving average price of $249.91 and a 200 day moving average price of $203.28. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.