Fiduciary Alliance LLC Increases Holdings in Alphabet Inc. $GOOGL

Key Points

• Fiduciary Alliance LLC increased its stake in Alphabet Inc. by 12.6%, owning a total of 81,055 shares after purchasing an additional 9,057 shares in the second quarter.
• Alphabet recently announced a $0.21 quarterly dividend, which translates to an annualized dividend of $0.84 and a yield of 0.3%.
• Analysts maintain a consensus rating of "Moderate Buy" on Alphabet stock, with an average target price of $222.85, reflecting strong confidence in the company's future performance.

Fiduciary Alliance LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,055 shares of the information services provider's stock after acquiring an additional 9,057 shares during the quarter. Alphabet comprises 1.1% of Fiduciary Alliance LLC's holdings, making the stock its 17th largest holding. Fiduciary Alliance LLC's holdings in Alphabet were worth $14,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Nuveen LLC bought a new stake in Alphabet during the first quarter worth $4,317,606,000. GAMMA Investing LLC grew its holdings in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after buying an additional 7,774,811 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Alphabet during the fourth quarter worth $1,375,509,000. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Sanford C. Bernstein raised their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald raised their target price on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. BMO Capital Markets upped their price target on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Three research 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.54.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet 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 completion of the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. 11.64% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.1%

GOOGL stock traded up $2.69 during trading on Friday, hitting $254.72. 55,452,697 shares of the company traded hands, compared to its average volume of 38,316,584. The firm has a market capitalization of $3.08 trillion, a PE ratio of 27.13, a P/E/G ratio of 1.70 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a 50-day moving average of $209.36 and a 200-day moving average of $180.31. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 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.