Freedom Day Solutions LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,420 shares of the information services provider's stock after selling 1,847 shares during the period. Freedom Day Solutions LLC's holdings in Alphabet were worth $3,070,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GOOGL. Callan Family Office LLC lifted its position in shares of Alphabet by 215.0% in the second quarter. Callan Family Office LLC now owns 197,241 shares of the information services provider's stock valued at $34,760,000 after acquiring an additional 134,616 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock worth $44,000 after purchasing an additional 67 shares in the last quarter. Boomfish Wealth Group LLC raised its stake in Alphabet by 16.0% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,564 shares of the information services provider's stock valued at $452,000 after purchasing an additional 354 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Alphabet by 7.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,806 shares of the information services provider's stock valued at $847,000 after purchasing an additional 321 shares in the last quarter. Finally, Game Plan Financial Advisors LLC boosted its stake in Alphabet by 29.2% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,103 shares of the information services provider's stock worth $371,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on GOOGL shares. Wedbush upped their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. JMP Securities raised their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Needham & Company LLC upped their price target on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada upped their target price on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.24.
Check Out Our Latest Stock Report on Alphabet
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company's stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by insiders.
Alphabet Stock Performance
NASDAQ GOOGL opened at $253.30 on Friday. The company has a market cap of $3.06 trillion, a P/E ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day moving average of $231.55 and a two-hundred day moving average of $191.85.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given 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 dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.
Alphabet Company Profile
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Free Report)
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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