Benchmark Investment Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,627 shares of the information services provider's stock after acquiring an additional 4,862 shares during the period. Alphabet accounts for 3.0% of Benchmark Investment Advisors LLC's investment portfolio, making the stock its 7th largest holding. Benchmark Investment Advisors LLC's holdings in Alphabet were worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet in the first quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet in the first quarter valued at 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 valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. Bank of America boosted their price target on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Westpark Capital boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Loop Capital reissued a "hold" rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald boosted their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.53.
Check Out Our Latest Stock Report on GOOGL
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock valued at $47,225,230 over the last ninety days. Company insiders own 11.64% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $212.91 on Friday. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $214.65. The stock's 50 day moving average is $190.44 and its 200-day moving average is $174.05. The firm has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.43 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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 return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 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.
Further Reading
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).
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