Bard Financial Services Inc. Has $9.47 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Bard Financial Services Inc. decreased its position in Alphabet Inc. by 6.3% during the second quarter, holding 53,755 shares valued at $9.47 million.
• The company reported earnings of $2.31 per share for the last quarter, exceeding analysts' expectations of $2.15, while revenue reached $96.43 billion.
• Alphabet has declared a quarterly dividend of $0.21 per share, with a payment date set for September 15th and an annualized yield of 0.3%.

Bard Financial Services Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 53,755 shares of the information services provider's stock after selling 3,600 shares during the period. Alphabet comprises 1.1% of Bard Financial Services Inc.'s holdings, making the stock its 23rd largest position. Bard Financial Services Inc.'s holdings in Alphabet were worth $9,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. grew its stake in 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 last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $39,000. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 0.2%

GOOGL opened at $240.80 on Monday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $242.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company's 50 day moving average price is $201.89 and its two-hundred day moving average price is $177.58.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company'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 $2,786,400.00. Following the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOOGL shares. Wall Street Zen upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday. Tigress Financial upped their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Royal Bank Of Canada boosted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Finally, Piper Sandler boosted their price objective on shares of Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $221.44.

Alphabet 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.

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.