Soltis Investment Advisors LLC Boosts Holdings in Alphabet Inc. $GOOGL

Soltis Investment Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,390 shares of the information services provider’s stock after acquiring an additional 18,153 shares during the quarter. Alphabet comprises about 1.4% of Soltis Investment Advisors LLC’s holdings, making the stock its 12th largest position. Soltis Investment Advisors LLC’s holdings in Alphabet were worth $18,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet during the first quarter valued at about $50,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $284.28 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s fifty day moving average price is $259.16 and its two-hundred day moving average price is $211.00. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 28.04, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $293.95.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Daiwa Capital Markets lifted their price target on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $305.33.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 189,896 shares of company stock worth $47,653,637. 11.64% of the stock is currently owned by insiders.

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.