Haverford Trust Co grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,047,637 shares of the information services provider's stock after purchasing an additional 162,701 shares during the period. Alphabet makes up 1.6% of Haverford Trust Co's investment portfolio, making the stock its 21st largest position. Haverford Trust Co's holdings in Alphabet were worth $162,007,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. 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 position in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position 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 position in Alphabet during the first quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Up 1.2%
GOOGL stock opened at $208.49 on Tuesday. The company's 50 day moving average price is $187.44 and its 200 day moving average price is $173.28. 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 fifty-two week low of $140.53 and a fifty-two week high of $210.52. The firm has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.39 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations 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 anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock worth $47,223,172 in the last ninety days. 11.55% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Westpark Capital upped their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. KeyCorp upped their price target on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Tigress Financial upped their price target on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Morgan Stanley upped their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Truist Financial restated a "buy" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $211.53.
Read Our Latest Analysis on GOOGL
About Alphabet
(
Free Report)
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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