Diversified Enterprises LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,015 shares of the information services provider's stock after selling 1,438 shares during the period. Diversified Enterprises LLC's holdings in Alphabet were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the 1st 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 during the 1st quarter valued at about $39,000. Institutional investors own 40.03% of the company's stock.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,285 shares of company stock worth $50,994,787 in the last quarter. 11.64% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Shares of GOOGL stock opened at $244.90 on Thursday. The stock has a market cap of $2.96 trillion, a P/E ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. 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 company has a fifty day moving average price of $219.14 and a two-hundred day moving average price of $184.66. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid 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 was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price objective on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Barclays lifted their price objective on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Morgan Stanley upped their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citigroup lifted their price objective on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $237.10.
Read Our Latest Analysis on Alphabet
Alphabet Company Profile
(
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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