Bahl & Gaynor Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 374.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,901 shares of the information services provider's stock after acquiring an additional 178,248 shares during the quarter. Bahl & Gaynor Inc.'s holdings in Alphabet were worth $34,933,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Nia Impact Advisors LLC grew its holdings in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the last quarter. Enzi Wealth grew its holdings 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 purchasing an additional 62 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the last quarter. Aspire Capital Advisors LLC grew its holdings in shares of Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares during the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. grew its holdings in shares of Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $207.14 on Wednesday. The stock has a market cap of $2.51 trillion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. The firm's fifty day simple moving average is $188.07 and its 200 day simple moving average is $173.51. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $210.52. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is 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 Analyst Weigh In
GOOGL has been the topic of several recent analyst reports. UBS Group raised their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wells Fargo & Company raised their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Piper Sandler raised their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Cantor Fitzgerald lifted their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Wedbush lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.
Read Our Latest Analysis on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's 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 transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,719 shares of company stock worth $47,223,172. Corporate insiders own 11.55% of the company's stock.
Alphabet Profile
(
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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
MarketBeat All Access