Alphabet Inc. $GOOGL Position Raised by Register Financial Advisors LLC

Key Points

• Register Financial Advisors LLC increased its stake in Alphabet Inc. by 333.7% during the second quarter, bringing its total holdings to 12,487 shares valued at approximately $2.2 million.
• Several institutional investors also bolstered their investments in Alphabet, with Vanguard Group and UBS Asset Management increasing their stakes by 2.9% and 11.4% respectively in the first quarter.
• Alphabet's earnings report showed a strong performance, with an EPS of $2.31 for the quarter, exceeding expectations, and a consensus price target set at $233.44 from analysts.

Register Financial Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 333.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,487 shares of the information services provider's stock after buying an additional 9,608 shares during the quarter. Alphabet makes up about 1.0% of Register Financial Advisors LLC's investment portfolio, making the stock its 28th largest holding. Register Financial Advisors LLC's holdings in Alphabet were worth $2,201,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Invesco Ltd. lifted its stake in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG lifted its stake in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after buying an additional 104,859 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOGL shares. Westpark Capital raised their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen lowered Alphabet from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Rosenblatt Securities raised their price target on Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Cantor Fitzgerald reissued a "neutral" rating and set a $201.00 price target on shares of Alphabet in a report on Wednesday, September 24th. Finally, Tigress Financial raised their price target on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.44.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,866 shares of company stock worth $52,363,610. Company insiders own 11.55% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $244.05 on Tuesday. The business's 50-day moving average price is $217.01 and its 200 day moving average price is $183.83. The firm has a market cap of $2.95 trillion, a P/E ratio of 25.99, a PEG ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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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