Naviter Wealth LLC Acquires 16,295 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Naviter Wealth LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 40.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,790 shares of the information services provider’s stock after acquiring an additional 16,295 shares during the quarter. Alphabet accounts for about 1.5% of Naviter Wealth LLC’s portfolio, making the stock its 10th largest position. Naviter Wealth LLC’s holdings in Alphabet were worth $10,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new stake in Alphabet during the first quarter worth approximately $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.4 %

GOOGL stock opened at $158.06 on Tuesday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 24.24, a PEG ratio of 1.13 and a beta of 1.04. The company has a 50 day moving average price of $166.84 and a two-hundred day moving average price of $165.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.44 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $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 $30,139,931. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on GOOGL shares. UBS Group upped their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Guggenheim increased their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, August 30th. Finally, Evercore ISI reduced their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

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.