Calton & Associates Inc. Purchases 4,902 Shares of Alphabet Inc. $GOOGL

Key Points

• Calton & Associates Inc. increased its holdings in Alphabet Inc. by 232.2%, acquiring an additional 4,902 shares, bringing their total ownership to 7,013 shares valued at approximately $1.085 million.
• Insider trading activity saw Director John L. Hennessy sell 600 shares for over $122,000, reflecting an 8.68% decrease in his ownership.
• Alphabet reported better-than-expected earnings per share of $2.31 for the last quarter, beating estimates and achieving a revenue of $96.43 billion.

Calton & Associates Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 232.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,013 shares of the information services provider's stock after buying an additional 4,902 shares during the quarter. Calton & Associates Inc.'s holdings in Alphabet were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $47,225,230 over the last three months. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Barclays raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JMP Securities raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Truist Financial reissued a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet Stock Up 0.6%

GOOGL opened at $212.91 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $214.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average of $190.44 and a two-hundred day moving average of $174.05. The stock 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 released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

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.

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.