Chris Bulman Inc Purchases New Shares in Alphabet Inc. $GOOGL

Key Points

• Chris Bulman Inc acquired 1,851 new shares in Alphabet Inc. valued at approximately $326,000 in the 2nd quarter.
• Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 in the past three months, with insiders currently owning 11.64% of the stock.
• Alphabet announced a quarterly dividend of $0.21 per share, representing an annualized dividend yield of 0.3%.

Chris Bulman Inc purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,851 shares of the information services provider's stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Copia Wealth Management acquired a new position in Alphabet in the 4th quarter worth about $122,000. Harraden Circle Investments LLC acquired a new position in Alphabet in the 4th quarter worth about $276,000. Finally, Anchor Pointe Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $1,015,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was 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 of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 in the last three months. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Susquehanna upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Barclays increased their price objective on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Westpark Capital increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Bank of America increased their price objective on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $231.31.

Alphabet Stock Performance

Shares of GOOGL opened at $247.14 on Thursday. 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 company has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.01. The stock has a 50 day moving average of $213.46 and a 200 day moving average of $181.91. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during 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%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. 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 dividend payout ratio is 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.

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