Bourgeon Capital Management LLC Has $22.42 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Bourgeon Capital Management LLC increased its stake in Alphabet Inc. to $22.42 million, representing a 4.4% increase during the second quarter.
• Insider selling activity includes Director John L. Hennessy selling 600 shares and CAO Amie Thuener O'Toole selling 953 shares, indicating a notable decrease in their ownership positions.
• Analysts have revised their target prices for Alphabet, with Wolfe Research setting a new target of $290, reflecting a positive outlook for the company's stock performance.

Bourgeon Capital Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,193 shares of the information services provider's stock after purchasing an additional 5,373 shares during the period. Alphabet comprises 4.4% of Bourgeon Capital Management LLC's holdings, making the stock its 2nd biggest holding. Bourgeon Capital Management LLC's holdings in Alphabet were worth $22,415,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. boosted its position in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC grew its position in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. The trade was a 5.22% 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. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GOOGL shares. Wolfe Research increased their target price on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Westpark Capital increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BMO Capital Markets upped their target price on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Tigress Financial boosted their price target on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Finally, KeyCorp increased their price objective on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $240.76.

Alphabet Stock Up 2.1%

Shares of NASDAQ:GOOGL opened at $250.43 on Tuesday. The company's fifty day moving average is $222.41 and its 200-day moving average is $186.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a market capitalization of $3.03 trillion, a PE ratio of 26.67, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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 $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

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.

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