Allium Financial Advisors LLC Invests $958,000 in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Allium Financial Advisors LLC has invested approximately $958,000 in Alphabet Inc. (NASDAQ: GOOGL) by purchasing 6,194 shares, making it the firm’s 22nd largest holding.
• Insider transactions included Director Kavitark Ram Shriram selling 18,566 shares for over $3.4 million, while CEO Sundar Pichai sold 32,500 shares for nearly $5.8 million.
• Recent analyst reports have raised target prices for GOOGL, with Guggenheim increasing theirs from $190 to $210 and JPMorgan from $200 to $232, contributing to a general positive sentiment.

Allium Financial Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,194 shares of the information services provider's stock, valued at approximately $958,000. Alphabet comprises about 0.9% of Allium Financial Advisors LLC's holdings, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in Alphabet in the 4th quarter worth approximately $3,119,000. Cypress Capital LLC grew its position in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC raised its stake in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% 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, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. JMP Securities upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Wells Fargo & Company raised their price target on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

Alphabet Stock Up 3.1%

Shares of NASDAQ:GOOGL traded up $5.91 during trading on Monday, hitting $195.04. 31,493,654 shares of the company were exchanged, compared to its average volume of 37,132,445. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $178.32 and a two-hundred day moving average price of $172.82.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

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.