Ethos Financial Group LLC Buys 8,453 Shares of Alphabet Inc. $GOOGL

Key Points

• Ethos Financial Group LLC has increased its stake in Alphabet Inc. by 90.1%, now owning 17,840 shares valued at approximately $3.03 million.
• Alphabet's recent quarterly earnings exceeded analyst expectations with $2.31 EPS compared to the predicted $2.15, alongside revenue of $96.43 billion.
• The company recently announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95% and a yield of 0.4%.

Ethos Financial Group LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 90.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,840 shares of the information services provider's stock after acquiring an additional 8,453 shares during the period. Ethos Financial Group LLC's holdings in Alphabet were worth $3,026,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 acquiring an additional 14,307,345 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after buying an additional 727,335 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $199.75 on Friday. 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 twelve month low of $140.53 and a twelve month high of $207.05. The stock's 50 day moving average is $186.18 and its 200-day moving average is $173.37. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 business had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock valued at $47,223,172 in the last 90 days. Insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush increased their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Rosenblatt Securities increased their price target on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.

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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