Alphabet Inc. $GOOGL Shares Acquired by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC increased its stake in Alphabet Inc. by 8.1%, now holding 156,879 shares worth approximately $27.6 million.
• Alphabet reported quarterly earnings of $2.31 EPS, exceeding analyst expectations, with revenues of $96.43 billion.
• The company declared a quarterly dividend of $0.21 per share on September 15th, resulting in an annualized yield of 0.3%.

Ballentine Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,879 shares of the information services provider's stock after purchasing an additional 11,714 shares during the period. Ballentine Partners LLC's holdings in Alphabet were worth $27,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oak Wealth Advisors LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $201,000. Heritage Oak Wealth Advisors LLC boosted its holdings in shares of Alphabet by 5.1% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 1,735 shares of the information services provider's stock worth $306,000 after purchasing an additional 84 shares during the last quarter. tru Independence LLC boosted its holdings in shares of Alphabet by 5.4% during the 2nd quarter. tru Independence LLC now owns 1,770 shares of the information services provider's stock worth $312,000 after purchasing an additional 90 shares during the last quarter. BCS Wealth Management boosted its holdings in shares of Alphabet by 34.7% during the 2nd quarter. BCS Wealth Management now owns 5,585 shares of the information services provider's stock worth $984,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Charter Capital Management LLC DE acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $1,246,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.3%

NASDAQ:GOOGL opened at $246.54 on Friday. 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 stock's fifty day moving average is $215.93 and its two-hundred day moving average is $183.14. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Melius Research boosted their target price on Alphabet from $220.00 to $255.00 in a report on Thursday. Needham & Company LLC upped their price objective on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. BMO Capital Markets upped their price objective on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Citizens Jmp upped their price objective on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Finally, Truist Financial upped their price objective on Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.44.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock valued at $52,405,304. Insiders own 11.64% of the company's stock.

About Alphabet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.