Goldstone Financial Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,561 shares of the information services provider's stock after acquiring an additional 2,193 shares during the period. Goldstone Financial Group LLC's holdings in Alphabet were worth $2,435,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new position in Alphabet in the 1st quarter worth approximately $4,317,606,000. GAMMA Investing LLC boosted its holdings in Alphabet by 16,993.2% in the 1st 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 during the period. Vanguard Group Inc. boosted its holdings in Alphabet by 2.9% in the 1st 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 during the period. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 307.6% in the 1st 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 during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Alphabet in the 4th quarter worth approximately $1,375,509,000. 40.03% of the stock is owned by institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated 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 completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last 90 days. 11.55% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms recently commented on GOOGL. Bank of America raised their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Guggenheim raised their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Alphabet from a "hold" rating to a "buy" rating in a report on Saturday. Wedbush increased their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Finally, Tigress Financial increased their target price on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Friday, September 5th. 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $221.44.
Check Out Our Latest Analysis on Alphabet
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $240.80 on Monday. The stock has a market cap of $2.91 trillion, a PE ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company's fifty day moving average is $201.89 and its 200 day moving average is $177.58. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $242.25. 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 (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Alphabet 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.
Further Reading
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