Moss Adams Wealth Advisors LLC Has $7.88 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Moss Adams Wealth Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,274 shares of the information services provider's stock after buying an additional 2,365 shares during the quarter. Alphabet accounts for approximately 1.1% of Moss Adams Wealth Advisors LLC's portfolio, making the stock its 14th largest holding. Moss Adams Wealth Advisors LLC's holdings in Alphabet were worth $7,882,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the fourth quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $38,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC boosted its stake in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider's stock valued at $45,000 after acquiring an additional 140 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL traded down $1.07 during mid-day trading on Thursday, reaching $161.78. 19,681,230 shares of the company's stock traded hands, compared to its average volume of 27,665,316. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business's 50-day moving average price is $174.06 and its 200-day moving average price is $163.55. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts' expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business earned $1.44 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet's dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at $362,126,319.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock valued at $26,823,893 over the last three months. Company insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. BMO Capital Markets reaffirmed an "outperform" rating and issued a $222.00 target price on shares of Alphabet in a research note on Tuesday, August 6th. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They issued an "outperform" rating and a $240.00 target price for the company. Loop Capital reissued a "hold" rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Jefferies Financial Group upped their price objective on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Truist Financial lifted their target price on Alphabet from $190.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $203.74.

Alphabet 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.