American Asset Management Inc. Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

American Asset Management Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,612 shares of the information services provider's stock, valued at approximately $249,000. Alphabet accounts for approximately 0.2% of American Asset Management Inc.'s holdings, making the stock its 20th largest holding.

Other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the first quarter worth about $39,000. Finally, Elite Financial Inc. purchased a new stake in Alphabet in the first quarter worth about $42,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GOOGL shares. Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Piper Sandler upped their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wedbush raised their price objective on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $211.39.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's 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 completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 in the last three months. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.4%

Shares of GOOGL stock opened at $189.13 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a market cap of $2.29 trillion, a P/E ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 1.01. The company has a 50 day simple moving average of $178.32 and a two-hundred day simple moving average of $172.82.

Alphabet Dividend Announcement

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