Dynamic Advisor Solutions LLC Acquires 3,339 Shares of Alphabet Inc. $GOOGL

Key Points

• Dynamic Advisor Solutions LLC acquired an additional 3,339 shares of Alphabet Inc. (GOOGL), increasing their total holdings to 139,051 shares, valued at approximately $24.5 million.
• Insider transactions included John Kent Walker selling 23,820 shares and Kavitark Ram Shriram selling 15,000 shares, reflecting notable decreases in their ownership.
• Analyst price targets for GOOGL have been raised, with a consensus target of $224.51 and a "Moderate Buy" rating prevailing among analysts.

Dynamic Advisor Solutions LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 139,051 shares of the information services provider's stock after purchasing an additional 3,339 shares during the quarter. Alphabet accounts for approximately 0.8% of Dynamic Advisor Solutions LLC's holdings, making the stock its 27th biggest holding. Dynamic Advisor Solutions LLC's holdings in Alphabet were worth $24,505,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its position in 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 during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter valued at about $39,000. Institutional investors own 40.03% of the company's stock.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. BNP Paribas Exane restated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Susquehanna upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Sanford C. Bernstein upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Rosenblatt Securities increased their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Finally, Needham & Company LLC increased their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.51.

Alphabet Price Performance

Alphabet stock opened at $252.03 on Friday. The stock's 50 day moving average is $207.87 and its 200 day moving average is $179.73. 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 firm has a market cap of $3.05 trillion, a P/E ratio of 26.84, a P/E/G ratio of 1.68 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $253.99.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $93.60 billion. As a group, research 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 issued 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 payout ratio is currently 8.95%.

About Alphabet

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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