Alphabet Inc. $GOOGL Stock Holdings Increased by Davis Investment Partners LLC

Key Points

• Davis Investment Partners LLC increased its holdings in Alphabet Inc. by 100.7% in the 2nd quarter, acquiring an additional 1,845 shares worth $647,000 in total.
• Several other institutional investors also made significant changes to their positions in Alphabet, with Guardian Wealth Management Inc. expanding their stake by 242.9% during the first quarter.
• Alphabet's stock has been rated positively by analysts, with Oppenheimer setting a new price target of $270.00, up from $235.00, reflecting confidence in the company's performance.

Davis Investment Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 100.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,677 shares of the information services provider's stock after acquiring an additional 1,845 shares during the period. Davis Investment Partners LLC's holdings in Alphabet were worth $647,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the first 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last 90 days. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Westpark Capital boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Bank of America boosted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald boosted their price objective on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.85.

Alphabet Price Performance

NASDAQ:GOOGL opened at $251.61 on Tuesday. The stock has a market cap of $3.04 trillion, a P/E ratio of 26.80, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $252.41. The company has a fifty day moving average price of $203.39 and a 200 day moving average price of $178.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results 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 analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

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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