Alphabet Inc. $GOOGL Holdings Raised by PGIM Custom Harvest LLC

PGIM Custom Harvest LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 60.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,461 shares of the information services provider's stock after purchasing an additional 7,367 shares during the quarter. PGIM Custom Harvest LLC's holdings in Alphabet were worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its stake 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 valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake 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 valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Up 3.2%

Shares of GOOGL opened at $206.09 on Monday. The company has a 50-day simple moving average of $186.81 and a 200-day simple moving average of $173.12. The firm has a market capitalization of $2.49 trillion, a P/E ratio of 21.95, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $208.54.

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

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOGL shares. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus boosted their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Guggenheim raised their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $211.53.

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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