Alphabet Inc. $GOOGL Shares Bought by Founders Capital Management LLC

Key Points

• Founders Capital Management LLC increased its stake in Alphabet Inc. by 5.8%, acquiring an additional 6,157 shares, which now represents 3.3% of its investment portfolio.
• Analyst ratings for Alphabet are positive, with several firms increasing their price targets, including Oppenheimer raising it to $270.00 and Citizens JMP raising it to $290.00.
• Alphabet recently declared a quarterly dividend of $0.21 per share, translating to an annualized yield of 0.3% and a payout ratio of 8.95%.

Founders Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,596 shares of the information services provider's stock after acquiring an additional 6,157 shares during the period. Alphabet comprises 3.3% of Founders Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Founders Capital Management LLC's holdings in Alphabet were worth $19,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Partners LLC grew its holdings in Alphabet by 21.3% during the 2nd quarter. Arlington Partners LLC now owns 23,487 shares of the information services provider's stock worth $4,139,000 after acquiring an additional 4,123 shares in the last quarter. Chris Bulman Inc purchased a new stake in Alphabet in the 2nd quarter valued at $326,000. Legacy Capital Group California Inc. raised its position in Alphabet by 15.1% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,907 shares of the information services provider's stock valued at $2,980,000 after purchasing an additional 2,216 shares during the last quarter. Financial Enhancement Group LLC purchased a new stake in Alphabet in the 2nd quarter valued at $210,000. Finally, BetterWealth LLC purchased a new stake in Alphabet in the 2nd quarter valued at $218,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Rosenblatt Securities upped their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Citizens Jmp upped their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Finally, KeyCorp upped their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $231.31.

Insider Activity at Alphabet

In related news, 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 sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $247.14 on Thursday. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock has a market cap of $2.99 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The firm's fifty day simple moving average is $213.46 and its 200-day simple moving average is $181.91.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Analysts expect 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. Stockholders of record on Monday, September 8th were paid 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 8.95%.

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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