Forza Wealth Management LLC Has $2.22 Million Stake in Alphabet Inc. $GOOGL

Forza Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,611 shares of the information services provider’s stock after buying an additional 306 shares during the period. Forza Wealth Management LLC’s holdings in Alphabet were worth $2,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mystic Asset Management Inc. increased its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co boosted its holdings in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Cypress Capital LLC boosted its holdings in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOOGL. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Stifel Nicolaus boosted their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein upped their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.98.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL opened at $245.76 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50 day simple moving average is $223.41 and its 200-day simple moving average is $187.13. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The stock has a market capitalization of $2.97 trillion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

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.