Ascent Group LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,859 shares of the information services provider's stock after acquiring an additional 8,577 shares during the period. Alphabet makes up approximately 1.0% of Ascent Group LLC's portfolio, making the stock its 20th biggest position. Ascent Group LLC's holdings in Alphabet were worth $26,762,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its stake 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 valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter worth approximately $28,000. von Borstel & Associates Inc. bought a new position in Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its holdings in 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research reports. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Cantor Fitzgerald reissued a "neutral" rating and issued a $201.00 price objective on shares of Alphabet in a research note on Wednesday, September 24th. Finally, Citigroup increased their price objective on Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $245.88.
Read Our Latest Stock Analysis on GOOGL
Insider Activity at Alphabet
In related news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last ninety days. Insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL opened at $236.57 on Friday. The firm has a market cap of $2.86 trillion, a PE ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00. The stock's fifty day moving average price is $226.31 and its two-hundred day moving average price is $188.49. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
About Alphabet
(
Free Report)
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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