Wolff Financial Management LLC Has $464,000 Stake in Alphabet Inc. $GOOGL

Wolff Financial Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the second quarter, Holdings Channel.com reports. The firm owned 2,632 shares of the information services provider’s stock after purchasing an additional 66 shares during the quarter. Wolff Financial Management LLC’s holdings in Alphabet were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the 1st 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 period. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter worth $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Citizens Jmp upgraded shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a report on Friday, June 27th. Stifel Nicolaus boosted their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald boosted their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $222.85.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was 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 directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $249.53 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $206.38 and a 200 day simple moving average of $179.14. The stock has a market cap of $3.02 trillion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $253.04.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend 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.