Davidson Investment Advisors Acquires 2,549 Shares of Alphabet Inc. $GOOG

Key Points

• Davidson Investment Advisors increased its holdings in Alphabet Inc. by 0.5% during Q2, acquiring an additional 2,549 shares to own a total of 474,914 shares, valued at approximately $84.25 million.
• Several large investors have adjusted their stakes in Alphabet, with RDA Financial Network and Tower View Wealth Management both reporting increases of over 5%, highlighting a growing interest among institutional investors.
• Alphabet recently declared a quarterly dividend of $0.21, reflecting a 0.3% annual yield, while its earnings surpassed analyst estimates with revenues up 13.8% compared to the previous year.

Davidson Investment Advisors grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 474,914 shares of the information services provider's stock after acquiring an additional 2,549 shares during the quarter. Alphabet accounts for approximately 3.8% of Davidson Investment Advisors' holdings, making the stock its 4th largest holding. Davidson Investment Advisors' holdings in Alphabet were worth $84,245,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. RDA Financial Network grew its holdings in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Tower View Wealth Management LLC grew its stake in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock valued at $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet in the second quarter valued at about $213,000. Truist Financial Corp raised its stake in shares of Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock worth $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC lifted its holdings in shares of Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock worth $38,031,000 after purchasing an additional 115,003 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Mizuho raised shares of Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Finally, Morgan Stanley increased their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $244.68.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 103 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares of the company's stock, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,372 shares of company stock valued at $55,110,740. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 0.8%

GOOG stock opened at $253.79 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.58. 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 firm's fifty day moving average is $232.18 and its 200 day moving average is $192.97. The firm has a market cap of $3.07 trillion, a PE ratio of 27.03, a P/E/G ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The company's revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 dividend payout ratio (DPR) is presently 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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