Alphabet Inc. $GOOGL Shares Purchased by Signature Wealth Management Partners LLC

Signature Wealth Management Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,530 shares of the information services provider’s stock after buying an additional 464 shares during the quarter. Alphabet accounts for about 1.2% of Signature Wealth Management Partners LLC’s investment portfolio, making the stock its 16th largest position. Signature Wealth Management Partners LLC’s holdings in Alphabet were worth $2,032,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter worth approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Moffett Nathanson lifted their price objective on shares of Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Tigress Financial lifted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $245.88.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock worth $59,062,683 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 2.1%

Alphabet stock opened at $236.57 on Monday. The company’s fifty day simple moving average is $226.31 and its 200-day simple moving average is $188.84. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a market cap of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio 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.