Fishman Jay A Ltd. MI Raises Stake in Alphabet Inc. $GOOGL

Key Points

• Fishman Jay A Ltd. MI raised its stake in Alphabet Inc. by 1.8% during the second quarter, owning over 401,000 shares valued at approximately $70.7 million.
• Several institutional investors increased their positions in GOOGL, with 40.03% of the stock now owned by these investors.
• Alphabet recently reported quarterly earnings of $2.31 per share, exceeding expectations, and a revenue of $96.43 billion.

Fishman Jay A Ltd. MI boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 401,372 shares of the information services provider's stock after buying an additional 7,134 shares during the period. Alphabet makes up about 6.8% of Fishman Jay A Ltd. MI's investment portfolio, making the stock its 4th largest position. Fishman Jay A Ltd. MI's holdings in Alphabet were worth $70,734,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. PUREfi Wealth LLC increased its position in shares of Alphabet by 21.6% during the second quarter. PUREfi Wealth LLC now owns 4,269 shares of the information services provider's stock valued at $752,000 after purchasing an additional 757 shares during the period. Cullinan Associates Inc. increased its position in shares of Alphabet by 3.1% during the second quarter. Cullinan Associates Inc. now owns 132,690 shares of the information services provider's stock valued at $23,384,000 after purchasing an additional 3,973 shares during the period. Chung Wu Investment Group LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $102,000. Petros Family Wealth LLC increased its position in shares of Alphabet by 14.9% during the second quarter. Petros Family Wealth LLC now owns 5,450 shares of the information services provider's stock valued at $960,000 after purchasing an additional 706 shares during the period. Finally, Vantage Investment Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $8,167,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,838 shares of company stock valued at $53,070,333 over the last 90 days. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOGL. Mizuho set a $295.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Monday, September 29th. Moffett Nathanson upped their price target on Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Susquehanna upped their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Wedbush upped their price target on Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Finally, Bank of America upped their price target on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $249.26.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $245.45 on Wednesday. The stock has a market cap of $2.97 trillion, a P/E ratio of 26.14, a PEG ratio of 1.65 and a beta of 1.00. The stock has a 50 day simple moving average of $228.31 and a 200 day simple moving average of $189.86. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a 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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