Alphabet Inc. $GOOGL Holdings Lifted by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in Alphabet Inc. by 11.2%, bringing its total shares to 21,983 valued at approximately $3.87 million.
• Insider sales at Alphabet included John Kent Walker selling 23,820 shares for over $4.6 million, while other insiders collectively sold 254,710 shares valued at nearly $49.2 million.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.3% and a payout ratio of 8.95%.

Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,983 shares of the information services provider's stock after buying an additional 2,214 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Alphabet were worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mystic Asset Management Inc. grew its holdings in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co grew its holdings in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Cypress Capital LLC grew its holdings in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC grew its holdings in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.2%

Alphabet stock opened at $240.80 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business's 50-day simple moving average is $201.89 and its 200-day simple moving average is $177.51. The firm has a market capitalization of $2.91 trillion, a PE ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $242.25.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. JMP Securities lifted their price objective on Alphabet from $225.00 to $250.00 and gave the company a "market outperform" rating in a research report on Wednesday, September 3rd. Loop Capital reissued a "hold" rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. DA Davidson boosted their price target on Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Finally, Cantor Fitzgerald boosted their price target on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold 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 $221.44.

Alphabet Company 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.

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