J.Safra Asset Management Corp Purchases 2,654 Shares of Alphabet Inc. $GOOG

Key Points

• J.Safra Asset Management Corp increased its position in Alphabet Inc. by 21.1%, acquiring an additional 2,654 shares during the second quarter, bringing its total holdings to 15,217 shares worth approximately $2.7 million.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.3% and a payout ratio of 8.95%.
• Equities analysts have set a consensus price target of $244.68 for Alphabet, with a majority rating it as a "Moderate Buy."

J.Safra Asset Management Corp grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 21.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,217 shares of the information services provider's stock after acquiring an additional 2,654 shares during the quarter. J.Safra Asset Management Corp's holdings in Alphabet were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. RDA Financial Network boosted its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after purchasing an additional 554 shares during the period. Tower View Wealth Management LLC boosted its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock worth $4,904,000 after purchasing an additional 1,776 shares during the period. Oldfather Financial Services LLC purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $213,000. Truist Financial Corp boosted its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock worth $643,381,000 after purchasing an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC boosted its holdings in shares of Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock worth $38,031,000 after purchasing an additional 115,003 shares during the period. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group set a $255.00 price objective on Alphabet and gave the company a "neutral" rating in a report on Thursday, October 9th. Jefferies Financial Group boosted their price objective on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Finally, Hsbc Global Res upgraded Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.68.

Alphabet Price Performance

Shares of GOOG stock opened at $253.79 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.58. The stock has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.70 and a beta of 1.00. The stock has a fifty day simple moving average of $232.18 and a two-hundred day simple moving average of $192.73. 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:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the business earned $1.89 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction on 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 transaction, the insider directly owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,372 shares of company stock worth $55,110,740. 12.99% of the stock is owned by company insiders.

About Alphabet

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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