Alphabet Inc. $GOOGL Shares Acquired by Smith Anglin Financial LLC

Key Points

• Smith Anglin Financial LLC increased its holdings in Alphabet Inc. by 17.8% during the second quarter, now owning 8,790 shares valued at approximately $1.55 million.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3%.
• Institutional investors collectively own 40.03% of Alphabet's stock, highlighting significant investor interest in the company.

Smith Anglin Financial LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,790 shares of the information services provider's stock after acquiring an additional 1,326 shares during the quarter. Smith Anglin Financial LLC's holdings in Alphabet were worth $1,549,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Missouri Trust & Investment Co raised its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC raised its position in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC raised its position in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock valued at $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth raised its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Park Capital Management LLC WI raised its position in Alphabet by 1.1% during the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock valued at $1,058,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $245.35 on Friday. 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. The company has a market capitalization of $2.97 trillion, a P/E ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00. The stock's fifty day moving average is $221.25 and its two-hundred day moving average is $185.96.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date 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 presently 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. UBS Group lifted their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Mizuho set a $295.00 price objective on Alphabet and gave the company an "outperform" rating in a report on Monday, September 29th. Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.76.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is currently owned by insiders.

Alphabet 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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