Hedeker Wealth LLC owns $9.46 million in Alphabet Inc. (NASDAQ:GOOGL)

Hedeker Wealth LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 51,941 shares of the information services provider’s stock after selling 1,203 shares during the quarter. Alphabet accounts for about 2.7% of Hedeker Wealth LLC’s holdings, making the stock its 8th biggest holding. Hedeker Wealth LLC’s holdings in Alphabet were worth $9,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. raised its stake 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 worth $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC boosted its stake in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the period. Institutional investors own 40.03% of the company’s shares.

Insiders place their bets

In other news, CEO Sundar Pichai sold 22,500 shares of the 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 transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated 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 owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,565 shares of company stock worth $26,823,893. Company insiders own 11.55% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of brokerages have issued reports on GOOGL. Evercore ISI upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Wells Fargo & Company boosted their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Raymond James boosted their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alphabet has an average rating of “Moderate Buy” and a consensus price target of $203.74, according to MarketBeat.

Get the latest stock analysis on GOOGL

Alphabet stock up 1.1%

Shares of GOOGL stock opened at $165.62 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a market cap of $2.05 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a fifty day moving average price of $174.73 and a 200 day moving average price of $163.04.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. In the same quarter in the previous year, the business earned $1.44 EPS. Stock analysts estimate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabetical announcement of dividends

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 issued a $0.20 dividend. This represents an annualized dividend of $0.80 and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s dividend payout ratio is currently 12.27%.

About Alphabet

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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Want to see what other hedge funds own GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Alphabet Inc. (NASDAQ:GOOGL – Free Report).

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