Ferguson Wellman Capital Management Inc. Has $242.05 Million Position in Alphabet Inc. $GOOGL

Key Points

• Ferguson Wellman Capital Management Inc. increased its stake in Alphabet Inc. by 2.7%, acquiring an additional 36,560 shares, bringing its total holdings to 1,373,479 shares valued at approximately $242 million.
• Several institutional investors, including Guardian Wealth Management Inc. and NBZ Investment Advisors LLC, significantly boosted their positions in Alphabet during the 1st quarter, indicating strong interest in the stock.
• Analysts have mixed ratings on Alphabet, with BNP Paribas downgrading it to a "hold," while others have set price targets as high as $245, reflecting confidence in the company's performance.

Ferguson Wellman Capital Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,373,479 shares of the information services provider's stock after purchasing an additional 36,560 shares during the quarter. Alphabet comprises approximately 4.3% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 4th largest holding. Ferguson Wellman Capital Management Inc.'s holdings in Alphabet were worth $242,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. raised 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 during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $2.69 on Friday, hitting $254.72. The company's stock had a trading volume of 55,452,697 shares, compared to its average volume of 38,953,800. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. 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 $3.08 trillion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. The stock's 50-day moving average is $209.36 and its two-hundred day moving average is $180.41.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Loop Capital reissued a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Royal Bank Of Canada boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Wells Fargo & Company upped their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, Morgan Stanley increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.54.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock valued at $52,405,304 over the last quarter. 11.55% of the stock is owned by company insiders.

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.