Consolidated Portfolio Review Corp Increases Stake in Alphabet Inc. $GOOGL

Key Points

• Consolidated Portfolio Review Corp increased its stake in Alphabet Inc. by 12.1%, owning 17,605 shares worth approximately $3.1 million after acquiring an additional 1,902 shares in the second quarter.
• Alphabet recently declared a quarterly dividend of $0.21 per share, translating to an annualized dividend yield of 0.3% and a dividend payout ratio of 8.95%.
• Following strong quarterly earnings reporting, brokerages have raised their price targets for Alphabet, with Wolfe Research increasing their target from $220 to $290.

Consolidated Portfolio Review Corp increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,605 shares of the information services provider's stock after buying an additional 1,902 shares during the period. Consolidated Portfolio Review Corp's holdings in Alphabet were worth $3,102,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GOOGL. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. boosted its holdings in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Deutsche Bank AG grew its position in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after buying an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after buying an additional 104,859 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 2.1%

Alphabet stock opened at $250.43 on Tuesday. The firm has a market cap of $3.03 trillion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.66 and a beta of 1.00. The stock has a fifty day simple moving average of $222.41 and a two-hundred day simple moving average of $186.72. 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $93.60 billion. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared 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 of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Citizens Jmp lifted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Finally, Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $240.76.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

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.