Adapt Wealth Advisors LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Adapt Wealth Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,340 shares of the information services provider’s stock, valued at approximately $244,000.

Several other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $30,000. Finally, Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter worth about $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’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 sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The disclosure for this sale can be found here. In the last three months, insiders sold 180,167 shares of company stock valued at $29,762,606. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Cantor Fitzgerald assumed coverage on Alphabet in a report on Thursday, September 5th. They set a “neutral” rating and a $190.00 price target on the stock. Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Evercore ISI lowered their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Trading Up 0.9 %

Shares of Alphabet stock opened at $163.59 on Monday. 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 1 year low of $120.21 and a 1 year high of $191.75. The company has a market capitalization of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The business has a 50 day moving average price of $164.72 and a 200 day moving average price of $165.79.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the firm posted $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. 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.