Alphabet Inc. $GOOGL Shares Acquired by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co has increased its holdings in Alphabet Inc. by 20.3%, owning a total of 103,800 shares, valued at approximately $16 million at the end of the last quarter.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, exceeding analysts' expectations of $2.15, with a revenue of $96.4 billion.
• The company's quarterly dividend of $0.21 per share is set to be paid out on September 15, with a current dividend yield of 0.4%.

Fayez Sarofim & Co increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,800 shares of the information services provider's stock after purchasing an additional 17,511 shares during the quarter. Fayez Sarofim & Co's holdings in Alphabet were worth $16,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. grew its holdings 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 during the period. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter worth $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Westpark Capital boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Rosenblatt Securities boosted their price objective on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Bank of America boosted their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Price Performance

Alphabet stock traded down $0.93 during midday trading on Monday, reaching $202.97. The company had a trading volume of 8,120,594 shares, compared to its average volume of 36,489,773. The company has a market capitalization of $2.45 trillion, a P/E ratio of 21.62, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm's fifty day simple moving average is $184.25 and its 200-day simple moving average is $173.01. 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 issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 owned 42,999 shares of the company's stock, valued at $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 a total of 274,819 shares of company stock worth $49,796,547 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Company 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.