Coordinated Financial Services Inc. CO acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,181 shares of the information services provider's stock, valued at approximately $492,000.
Other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its holdings 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 acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several recent analyst reports. Truist Financial reissued a "buy" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. BMO Capital Markets boosted their target price on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Finally, UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $221.44.
Get Our Latest Stock Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock worth $49,208,380. 11.55% of the stock is currently owned by insiders.
Alphabet Trading Down 0.4%
GOOGL stock traded down $0.96 during trading on Monday, hitting $234.04. The company had a trading volume of 32,427,222 shares, compared to its average volume of 34,085,072. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $196.95 and a 200-day moving average price of $175.73. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $238.13. The stock has a market cap of $2.83 trillion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.58 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is presently 8.95%.
Alphabet Profile
(
Free Report)
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.
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