Lyell Wealth Management LP Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Lyell Wealth Management LP increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,125 shares of the information services provider’s stock after purchasing an additional 15,550 shares during the quarter. Alphabet makes up approximately 1.7% of Lyell Wealth Management LP’s investment portfolio, making the stock its 12th largest position. Lyell Wealth Management LP’s holdings in Alphabet were worth $17,998,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. JPMorgan Chase & Co. grew its holdings in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares in the last quarter. Swedbank AB purchased a new stake in Alphabet in the 1st quarter valued at $1,378,708,000. Capital International Investors grew its holdings in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares during the period. Finally, Vima LLC grew its holdings in shares of Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold 201,867 shares of company stock valued at $34,218,581 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GOOG shares. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Price Performance

GOOG stock opened at $158.37 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. The business’s 50-day moving average is $169.06 and its two-hundred day moving average is $166.35. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 EPS. Analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

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.