Apella Capital LLC Has $827,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Apella Capital LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 80.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,340 shares of the information services provider’s stock after acquiring an additional 1,929 shares during the period. Apella Capital LLC’s holdings in Alphabet were worth $827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB lifted its holdings in shares of Alphabet by 59.5% in the second quarter. AMF Tjanstepension AB now owns 3,677,668 shares of the information services provider’s stock valued at $674,593,000 after purchasing an additional 1,371,503 shares in the last quarter. Grassi Investment Management lifted its stake in Alphabet by 1.5% in the 2nd quarter. Grassi Investment Management now owns 6,900 shares of the information services provider’s stock valued at $1,266,000 after acquiring an additional 100 shares in the last quarter. Park Avenue Securities LLC boosted its position in Alphabet by 2.2% during the 2nd quarter. Park Avenue Securities LLC now owns 112,265 shares of the information services provider’s stock worth $20,592,000 after acquiring an additional 2,387 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of Alphabet by 9.6% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 76,782 shares of the information services provider’s stock worth $14,083,000 after acquiring an additional 6,706 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Alphabet by 38.3% in the second quarter. Harbor Capital Advisors Inc. now owns 78,637 shares of the information services provider’s stock valued at $14,424,000 after purchasing an additional 21,787 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The disclosure for this sale can be found here. In the last three months, insiders sold 122,308 shares of company stock worth $21,933,775. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOG shares. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $182.86.

Alphabet Price Performance

Shares of GOOG stock traded up $0.21 during trading hours on Wednesday, reaching $160.75. The stock had a trading volume of 19,289,096 shares, compared to its average volume of 20,687,906. The stock’s fifty day simple moving average is $179.29 and its 200 day simple moving average is $163.21. The firm has a market capitalization of $1.99 trillion, a PE ratio of 24.64, a PEG ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) 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.