Alphabet Inc. $GOOGL Shares Purchased by Advisors Management Group Inc. ADV

Key Points

• Advisors Management Group Inc. ADV has increased its stake in Alphabet Inc. (NASDAQ: GOOGL) by 17.7%, now owning 51,227 shares valued at approximately $9 million.
• Alphabet's recent quarterly earnings reported an EPS of $2.31, exceeding estimates, with revenues of $96.43 billion, compared to expectations of $93.60 billion.
• The company also declared a dividend of $0.21 per share, yielding 0.3% annually, with a payout ratio of 8.95%.

Advisors Management Group Inc. ADV increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,227 shares of the information services provider's stock after purchasing an additional 7,721 shares during the quarter. Alphabet accounts for 1.7% of Advisors Management Group Inc. ADV's holdings, making the stock its 13th largest holding. Advisors Management Group Inc. ADV's holdings in Alphabet were worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the 1st quarter worth about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.7%

GOOGL opened at $244.90 on Thursday. The business has a 50 day moving average price of $219.14 and a two-hundred day moving average price of $184.66. 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 cap of $2.96 trillion, a PE ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during 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%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,285 shares of company stock worth $50,994,787 over the last quarter. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Barclays lifted their price target on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Citizens Jmp boosted their target price on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Moffett Nathanson boosted their target price on Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Sanford C. Bernstein boosted their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $237.10.

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.

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