Lionshead Wealth Management LLC Acquires Shares of 1,179 Alphabet Inc. $GOOGL

Lionshead Wealth Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,179 shares of the information services provider’s stock, valued at approximately $208,000.

Other institutional investors have also added to or reduced their stakes in the company. Miller Financial Services LLC raised its holdings in shares of Alphabet by 11.5% in the second quarter. Miller Financial Services LLC now owns 4,432 shares of the information services provider’s stock worth $781,000 after buying an additional 456 shares during the period. Winnow Wealth LLC purchased a new position in Alphabet during the 2nd quarter valued at $220,000. Weaver Consulting Group grew its position in Alphabet by 6.3% in the 2nd quarter. Weaver Consulting Group now owns 11,255 shares of the information services provider’s stock valued at $1,983,000 after acquiring an additional 663 shares during the last quarter. Mizuho Securities Co. Ltd. increased its stake in Alphabet by 325.6% in the second quarter. Mizuho Securities Co. Ltd. now owns 1,660 shares of the information services provider’s stock worth $293,000 after purchasing an additional 1,270 shares during the period. Finally, NFP Retirement Inc. increased its stake in Alphabet by 37.2% in the second quarter. NFP Retirement Inc. now owns 7,692 shares of the information services provider’s stock worth $1,356,000 after purchasing an additional 2,087 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. 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. CICC Research lifted their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. China Renaissance boosted their price target on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Citizens Jmp increased their price objective on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Four 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $308.73.

Insider Activity at Alphabet

In other 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 completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,072 shares of company stock worth $58,074,027 in the last three months. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Down 1.8%

GOOGL stock opened at $314.49 on Tuesday. The stock has a market capitalization of $3.79 trillion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $270.48 and a 200 day moving average of $220.62.

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

Alphabet Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.