Capital Market Strategies LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 31.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,786 shares of the information services provider's stock after selling 2,670 shares during the period. Capital Market Strategies LLC's holdings in Alphabet were worth $1,020,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GOOGL. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on GOOGL shares. Loop Capital reaffirmed a "hold" rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Wells Fargo & Company boosted their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley lifted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $222.85.
Read Our Latest Stock Analysis on GOOGL
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded up $10.81 during mid-day trading on Monday, hitting $251.61. The company had a trading volume of 58,263,832 shares, compared to its average volume of 34,999,380. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $252.41. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. 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's 50 day simple moving average is $201.89 and its two-hundred day simple moving average is $177.58.
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 the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid 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 Activity
In related news, insider John Kent Walker sold 23,820 shares of the firm'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 value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 in the last quarter. Company insiders own 11.55% of the company's stock.
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.
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