Dover Advisors LLC Increases Stake in Alphabet Inc. $GOOGL

Dover Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,216 shares of the information services provider's stock after buying an additional 1,038 shares during the quarter. Alphabet accounts for about 2.7% of Dover Advisors LLC's investment portfolio, making the stock its 6th biggest holding. Dover Advisors LLC's holdings in Alphabet were worth $6,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Enzi Wealth boosted its position in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the period. Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares in the last quarter. Aspire Capital Advisors LLC raised its stake in Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares in the last quarter. Rainey & Randall Wealth Advisors Inc. boosted its holdings in Alphabet by 2.1% in the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after purchasing an additional 67 shares during the period. Finally, Florida Financial Advisors LLC grew its position in shares of Alphabet by 0.4% during the 1st quarter. Florida Financial Advisors LLC now owns 16,311 shares of the information services provider's stock worth $2,523,000 after purchasing an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Morgan Stanley lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. KeyCorp upped their target price on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Alphabet from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Needham & Company LLC boosted their price target on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.85.

Insider Activity

In other news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Up 4.5%

NASDAQ GOOGL opened at $251.61 on Tuesday. The firm has a market capitalization of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The business's 50-day moving average price is $203.39 and its two-hundred day moving average price is $178.15. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $252.41.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company 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 was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.

Alphabet Company 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.

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.