Drucker Wealth 3.0 LLC Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Drucker Wealth 3.0 LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,861 shares of the information services provider’s stock, valued at approximately $4,346,000. Alphabet accounts for 1.2% of Drucker Wealth 3.0 LLC’s portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Employees Retirement System of Texas increased its position in Alphabet by 2.8% during the 2nd quarter. Employees Retirement System of Texas now owns 512,983 shares of the information services provider’s stock valued at $93,440,000 after buying an additional 13,740 shares in the last quarter. Absolute Gestao de Investimentos Ltda. raised its position in Alphabet by 1,120.8% in the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 28,078 shares of the information services provider’s stock worth $5,114,000 after buying an additional 25,778 shares during the last quarter. Absoluto Partners Gestao de Recursos Ltda lifted its position in Alphabet by 24.9% during the second quarter. Absoluto Partners Gestao de Recursos Ltda now owns 27,624 shares of the information services provider’s stock valued at $4,739,000 after purchasing an additional 5,512 shares during the period. AlTi Global Inc. boosted its stake in shares of Alphabet by 0.5% in the 2nd quarter. AlTi Global Inc. now owns 258,554 shares of the information services provider’s stock worth $47,096,000 after buying an additional 1,405 shares during the last quarter. Finally, Alight Capital Management LP grew its stake in shares of Alphabet by 19.2% during the 2nd quarter. Alight Capital Management LP now owns 35,758 shares of the information services provider’s stock valued at $6,513,000 after purchasing an additional 5,758 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 217,592 shares of company stock valued at $35,922,911 over the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 2.4 %

Shares of NASDAQ:GOOGL opened at $162.98 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $162.06 and a two-hundred day moving average of $167.41. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a market capitalization of $2.01 trillion, a PE ratio of 25.00, a PEG ratio of 1.21 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 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 company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOGL shares. Royal Bank of Canada upped their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company decreased their price target on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Evercore ISI lowered their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

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.