InvesTrust purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,295 shares of the information services provider's stock, valued at approximately $228,000.
A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the first quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 in the last 90 days. 11.55% of the stock is owned by corporate insiders.
Alphabet Trading Up 4.5%
GOOGL traded up $10.81 during midday trading on Monday, reaching $251.61. 58,263,832 shares of the company were exchanged, compared to its average volume of 34,999,380. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The stock's 50-day simple moving average is $201.89 and its 200 day simple moving average is $177.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $252.41.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during 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%. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Analyst Ratings Changes
A number of research firms recently commented on GOOGL. Westpark Capital lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen raised Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company raised their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Rosenblatt Securities boosted their price objective on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Finally, JMP Securities increased their target price on Alphabet from $225.00 to $250.00 and gave the stock a "market outperform" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.85.
Check Out Our Latest Research Report on Alphabet
Alphabet Company Profile
(
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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