Tanager Wealth Management LLP Buys 864 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tanager Wealth Management LLP raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,454 shares of the information services provider’s stock after acquiring an additional 864 shares during the period. Alphabet comprises approximately 0.5% of Tanager Wealth Management LLP’s investment portfolio, making the stock its 28th largest holding. Tanager Wealth Management LLP’s holdings in Alphabet were worth $3,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Finally, Armor Investment Advisors LLC increased its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.07 on Friday. The firm has a market cap of $2.29 trillion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $118.22 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day moving average price of $177.69 and a 200-day moving average price of $157.65.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 122,988 shares of company stock worth $21,015,755 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GOOGL shares. Morgan Stanley reissued an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Wells Fargo & Company lifted their price objective on Alphabet from $168.00 to $187.00 and gave the stock an “equal weight” rating in a report on Monday, July 8th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, June 28th. Mizuho lifted their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.06.

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.