SVB Wealth LLC Has $47.04 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

SVB Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 258,249 shares of the information services provider’s stock after acquiring an additional 25,615 shares during the quarter. Alphabet makes up approximately 1.2% of SVB Wealth LLC’s investment portfolio, making the stock its 11th largest position. SVB Wealth LLC’s holdings in Alphabet were worth $47,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust increased its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Matisse Capital increased its position in shares of Alphabet by 13.7% in the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after acquiring an additional 2,026 shares during the last quarter. Berkshire Money Management Inc. bought a new position in Alphabet during the first quarter worth about $359,000. Finally, Schneider Downs Wealth Management Advisors LP grew its holdings in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,167 shares of company stock valued at $29,762,606. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOOGL shares. Guggenheim lifted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup boosted their price objective on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Monday, September 16th. Mizuho boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Roth Mkm restated a “buy” rating and set a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Trading Up 0.9 %

GOOGL opened at $163.59 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company’s 50 day moving average price is $164.72 and its two-hundred day moving average price is $165.32. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company 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.