Opes Wealth Management LLC Has $1.67 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Opes Wealth Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,816 shares of the information services provider’s stock after selling 66 shares during the quarter. Opes Wealth Management LLC’s holdings in Alphabet were worth $1,673,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Noesis Capital Mangement Corp boosted its stake in Alphabet by 2.3% in the first quarter. Noesis Capital Mangement Corp now owns 30,158 shares of the information services provider’s stock worth $4,664,000 after purchasing an additional 688 shares in the last quarter. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. Black Swift Group LLC boosted its stake in Alphabet by 16.0% in the first quarter. Black Swift Group LLC now owns 1,450 shares of the information services provider’s stock worth $224,000 after purchasing an additional 200 shares in the last quarter. Dempze Nancy E boosted its stake in Alphabet by 0.3% in the first quarter. Dempze Nancy E now owns 34,222 shares of the information services provider’s stock worth $5,292,000 after purchasing an additional 93 shares in the last quarter. Finally, Hendershot Investments Inc. boosted its stake in Alphabet by 2.0% in the first quarter. Hendershot Investments Inc. now owns 205,581 shares of the information services provider’s stock worth $31,791,000 after purchasing an additional 3,975 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.4%

NASDAQ:GOOGL opened at $196.53 on Thursday. 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 market cap of $2.38 trillion, a PE ratio of 20.93, a PEG ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a 50-day simple moving average of $177.49 and a 200 day simple moving average of $173.11.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler boosted their price objective on Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price objective on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Barclays boosted their price objective on Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Sanford C. Bernstein boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Finally, Guggenheim upped their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.39.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred 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 $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were 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 owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,298 shares of company stock valued at $43,505,967. 11.64% of the stock is owned by corporate insiders.

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.