Greykasell Wealth Strategies Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Greykasell Wealth Strategies Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,869 shares of the information services provider’s stock after acquiring an additional 156 shares during the period. Alphabet accounts for 2.4% of Greykasell Wealth Strategies Inc.’s portfolio, making the stock its 10th largest holding. Greykasell Wealth Strategies Inc.’s holdings in Alphabet were worth $4,464,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised 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 acquiring an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.2%

Shares of GOOGL opened at $203.34 on Wednesday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a 50-day moving average of $182.27 and a 200 day moving average of $173.02. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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 $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were 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 in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,219 shares of company stock worth $49,674,273. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Roth Capital increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Rosenblatt Securities increased their price objective on shares of Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. UBS Group increased their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Guggenheim increased their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $211.53.

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.