DMKC Advisory Services LLC Acquires New Position in Alphabet Inc. $GOOGL

DMKC Advisory Services LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,313 shares of the information services provider's stock, valued at approximately $241,000.

Several other large investors have also bought and sold shares of GOOGL. Nuveen LLC acquired a new position in Alphabet in the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% in 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 buying an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after buying an additional 7,774,811 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphabet by 11.4% in 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. Finally, Amundi lifted its holdings in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after buying an additional 3,537,173 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GOOGL shares. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an "outperform" rating in a report on Monday, September 29th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Finally, Citigroup boosted their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a report on Monday, September 15th. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $244.62.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm'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 completion of the transaction, the director directly owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 over the last three months. Insiders own 11.64% of the company's stock.

Alphabet Stock Down 1.3%

Shares of GOOGL stock opened at $241.53 on Friday. The firm has a fifty day moving average of $225.37 and a 200-day moving average of $188.04. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 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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