Bigelow Investment Advisors LLC Has $2.44 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Bigelow Investment Advisors LLC decreased its holdings in Alphabet Inc. by 7.5%, owning 13,848 shares after selling 1,122 shares during Q2.
• Alphabet recently reported earnings of $2.31 per share for the latest quarter, surpassing analyst estimates of $2.15, with a revenue of $96.43 billion.
• A quarterly dividend of $0.21 was paid on September 15th, representing an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Bigelow Investment Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,848 shares of the information services provider's stock after selling 1,122 shares during the period. Alphabet makes up approximately 1.1% of Bigelow Investment Advisors LLC's holdings, making the stock its 23rd largest holding. Bigelow Investment Advisors LLC's holdings in Alphabet were worth $2,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Enzi Wealth raised its holdings in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares during the period. Wolff Financial Management LLC increased its holdings in Alphabet by 2.6% during the 2nd quarter. Wolff Financial Management LLC now owns 2,632 shares of the information services provider's stock worth $464,000 after purchasing an additional 66 shares during the last quarter. Whipplewood Advisors LLC increased its holdings in Alphabet by 1.2% during the 1st 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 increased its holdings in Alphabet by 1.0% during the 1st 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. increased its holdings in Alphabet by 2.1% during the 1st 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 institutional investors and hedge funds.

Alphabet Trading Down 0.3%

Shares of NASDAQ:GOOGL traded down $0.73 during midday trading on Tuesday, hitting $251.80. The company had a trading volume of 15,689,308 shares, compared to its average volume of 36,714,328. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $210.78 and a 200 day simple moving average of $180.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, 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 was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 in the last quarter. Corporate insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GOOGL shares. DA Davidson lifted their price objective on Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Tigress Financial boosted their price target on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. JMP Securities boosted their price target on Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a report on Friday. Truist Financial boosted their price target on Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a report on Monday. Finally, Sanford C. Bernstein boosted their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Three 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $231.31.

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.