Liberty Wealth Management LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Liberty Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 69,353 shares of the information services provider’s stock, valued at approximately $12,633,000.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the first quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth about $36,000. Finally, Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Piper Sandler decreased their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. TD Securities increased their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was 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 directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock worth $29,762,606 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.1 %

NASDAQ GOOGL opened at $161.85 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business’s fifty day simple moving average is $164.23 and its 200-day simple moving average is $165.98. The firm has a market cap of $2.00 trillion, a PE ratio of 24.82, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business posted $1.44 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. 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 dividend payout ratio (DPR) is 12.27%.

Alphabet 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.