Ameriflex Group Inc. Has $1.41 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Ameriflex Group Inc. reduced its holdings in Alphabet Inc. by 27.5%, holding $1.41 million worth of stock after selling 3,092 shares in the second quarter.
• Insider transactions include John Kent Walker selling 17,816 shares for over $4.4 million, indicating a 29.3% decrease in his position.
• Alphabet's recent quarterly earnings report showed earnings per share of $2.31, exceeding expectations and demonstrating a net margin of 31.12% with revenues of $96.43 billion.

Ameriflex Group Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,138 shares of the information services provider's stock after selling 3,092 shares during the quarter. Ameriflex Group Inc.'s holdings in Alphabet were worth $1,412,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Missouri Trust & Investment Co lifted its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after buying an additional 57 shares during the last quarter. Bfsg LLC lifted its stake in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after buying an additional 59 shares during the last quarter. Financial Council LLC lifted its stake in shares of Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider's stock worth $1,022,000 after buying an additional 60 shares during the last quarter. Finally, Enzi Wealth lifted its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 2.1%

Shares of Alphabet stock opened at $236.57 on Friday. The business has a fifty day simple moving average of $226.31 and a two-hundred day simple moving average of $188.66. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. 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 announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOOGL. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. UBS Group boosted their price objective on shares of Alphabet from $237.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday. Truist Financial boosted their price objective on shares of Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Moffett Nathanson upped their target price on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Finally, Rosenblatt Securities upped their target price on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $245.88.

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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