Wrapmanager Inc. Increases Stock Holdings in Alphabet Inc. $GOOGL

Wrapmanager Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,186 shares of the information services provider’s stock after purchasing an additional 312 shares during the quarter. Alphabet makes up 0.9% of Wrapmanager Inc.’s portfolio, making the stock its 26th biggest holding. Wrapmanager Inc.’s holdings in Alphabet were worth $3,557,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its stake in 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 period. Alaethes Wealth LLC lifted its holdings in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC boosted its position in Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares during the period. Welch Group LLC increased its holdings in Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management raised its position in Alphabet by 4.8% in the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after purchasing an additional 390 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.1%

NASDAQ GOOGL opened at $319.95 on Thursday. The company has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company’s fifty day moving average price is $266.58 and its two-hundred day moving average price is $216.93.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 225,072 shares of company stock valued at $58,074,027 in the last quarter. Insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. HSBC increased their target price on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Tigress Financial increased their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, September 5th. Mizuho set a $325.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, CICC Research raised their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

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.