Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,845 shares of the information services provider’s stock after purchasing an additional 2,171 shares during the period. Parcion Private Wealth LLC’s holdings in Alphabet were worth $4,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. NINE MASTS CAPITAL Ltd purchased a new stake in Alphabet in the fourth quarter valued at approximately $5,297,000. Summit X LLC lifted its stake in Alphabet by 63.0% during the 4th quarter. Summit X LLC now owns 25,400 shares of the information services provider’s stock valued at $3,548,000 after acquiring an additional 9,820 shares during the period. Independent Advisor Alliance increased its stake in shares of Alphabet by 1.8% in the fourth quarter. Independent Advisor Alliance now owns 258,299 shares of the information services provider’s stock worth $36,082,000 after acquiring an additional 4,634 shares during the period. Brown Advisory Inc. increased its stake in shares of Alphabet by 3.4% in the fourth quarter. Brown Advisory Inc. now owns 8,568,734 shares of the information services provider’s stock worth $1,196,966,000 after acquiring an additional 278,134 shares during the period. Finally, Gainplan LLC raised its holdings in shares of Alphabet by 24.6% during the fourth quarter. Gainplan LLC now owns 2,951 shares of the information services provider’s stock worth $412,000 after purchasing an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.9 %

GOOGL opened at $163.59 on Friday. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company’s 50 day simple moving average is $164.72 and its two-hundred day simple moving average is $165.55. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. 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 (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the business posted $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,167 shares of company stock worth $29,762,606. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Citigroup boosted their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, September 5th. Finally, Royal Bank of Canada boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $201.08.

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.