Eaton Financial Holdings Company LLC Purchases 11,326 Shares of Alphabet Inc. $GOOGL

Key Points

• Eaton Financial Holdings Company LLC increased its holdings in Alphabet Inc. by 49.1%, acquiring an additional 11,326 shares during the 2nd quarter, bringing their total to 34,406 shares valued at approximately $6.06 million.
• Institutional investors own 40.03% of Alphabet's stock, with major stakeholders including Vanguard Group and UBS AM, both increasing their stakes in the company during the past quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, yielding 0.3%, with the payout ratio standing at 8.95%.

Eaton Financial Holdings Company LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 49.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,406 shares of the information services provider's stock after buying an additional 11,326 shares during the quarter. Alphabet comprises about 1.9% of Eaton Financial Holdings Company LLC's portfolio, making the stock its 17th largest position. Eaton Financial Holdings Company LLC's holdings in Alphabet were worth $6,063,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% in the 1st 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 purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird lifted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Wall Street Zen downgraded shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, Westpark Capital lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $233.44.

Alphabet Stock Up 0.3%

Shares of NASDAQ GOOGL opened at $246.54 on Friday. The company has a market capitalization of $2.98 trillion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. 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 company's 50 day moving average price is $215.93 and its 200-day moving average price is $183.03.

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, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is 8.95%.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 over the last quarter. Company insiders own 11.64% of the company's stock.

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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