Gentry Private Wealth LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Gentry Private Wealth LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,398 shares of the information services provider’s stock, valued at approximately $801,000. Alphabet makes up approximately 0.7% of Gentry Private Wealth LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other institutional investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at $30,000. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at about $36,000. Finally, Denver PWM LLC purchased a new position in Alphabet in the second quarter worth about $41,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOGL shares. TD Securities upped their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. Mizuho lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Finally, Argus raised their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. 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 company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,167 shares of company stock worth $29,762,606. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $163.59 on Friday. The firm has a fifty day simple moving average of $164.72 and a two-hundred day simple moving average of $165.32. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.02 trillion, a P/E 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 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 company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the business posted $1.44 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given 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 of this dividend was Monday, September 9th. Alphabet’s dividend 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.