High Probability Advisors LLC Takes Position in Alphabet Inc. $GOOGL

Key Points

• High Probability Advisors LLC has acquired a new stake in Alphabet Inc., purchasing 1,181 shares valued at approximately $208,000.
• Multiple analysts have raised their price targets on Alphabet, with Bank of America increasing it to $217.00, while Citigroup raised it to $280.00 and maintained a "buy" rating.
• Alphabet recently declared a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3%, with a current payout ratio of 8.95%.

High Probability Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,181 shares of the information services provider's stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. Mystic Asset Management Inc. raised its holdings in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its holdings in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC grew its holdings in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC grew its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America upped their target price on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Citigroup raised their price target on Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, BNP Paribas downgraded 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 issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $222.85.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated 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 directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 15,000 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 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. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,588 shares of company stock valued at $44,296,554 over the last 90 days. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Down 0.2%

Shares of Alphabet stock opened at $251.16 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.04 trillion, a P/E ratio of 26.75, a P/E/G ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $253.04. The business has a 50-day moving average price of $204.93 and a 200 day moving average price of $178.65.

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 the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Alphabet Company Profile

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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