Hardy Reed LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,930 shares of the information services provider's stock after purchasing an additional 2,958 shares during the quarter. Alphabet makes up about 0.8% of Hardy Reed LLC's holdings, making the stock its 20th biggest holding. Hardy Reed LLC's holdings in Alphabet were worth $9,504,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. GAMMA Investing LLC boosted its stake in Alphabet by 10.5% in the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock worth $16,062,000 after purchasing an additional 9,900 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Alphabet by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,508,914 shares of the information services provider's stock worth $387,979,000 after purchasing an additional 106,082 shares in the last quarter. Finally, Traphagen Investment Advisors LLC lifted its stake in Alphabet by 5.3% during the 1st quarter. Traphagen Investment Advisors LLC now owns 10,860 shares of the information services provider's stock valued at $1,679,000 after acquiring an additional 543 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on GOOGL shares. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, October 7th. Melius Research increased their target price on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. The Goldman Sachs Group reissued a "buy" rating and issued a $288.00 target price on shares of Alphabet in a report on Tuesday. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Finally, Westpark Capital raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $249.26.
Read Our Latest Report on GOOGL
Alphabet Stock Up 2.3%
NASDAQ:GOOGL opened at $251.03 on Thursday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The stock has a fifty day simple moving average of $229.41 and a 200-day simple moving average of $190.28. 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 (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, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during 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%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares of the company's stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,438 shares of company stock valued at $53,216,085 over the last three months. 11.64% of the stock is currently owned by corporate insiders.
About Alphabet
(
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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