Cliftonlarsonallen Wealth Advisors LLC Acquires 609 Shares of Alphabet Inc. $GOOGL

Cliftonlarsonallen Wealth Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,367 shares of the information services provider’s stock after purchasing an additional 609 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Alphabet were worth $4,647,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOGL. Nuveen LLC bought a new position in Alphabet during the 1st quarter worth approximately $4,317,606,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after acquiring an additional 7,774,811 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Finally, Amundi boosted its stake in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.3%

GOOGL opened at $241.53 on Friday. The company’s 50 day moving average is $225.37 and its 200-day moving average is $188.04. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.92 trillion, a P/E ratio of 25.72, a PEG ratio of 1.65 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last quarter. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOGL. Wolfe Research lifted their price objective on shares of Alphabet from $220.00 to $290.00 in a research note on Tuesday, September 30th. KeyCorp raised their target price on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Moffett Nathanson raised their target price on shares of Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $244.62.

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.