Kathmere Capital Management LLC Purchases 1,724 Shares of Alphabet Inc. $GOOGL

Key Points

• Kathmere Capital Management LLC increased its stake in Alphabet Inc. by 16.4% during Q2, acquiring an additional 1,724 shares and bringing its total holdings to 12,230 shares worth approximately $2.15 million.
• Several institutional investors, including Destiny Wealth Partners LLC and Investment Partners Asset Management Inc., also raised their positions in Alphabet during the same period, reflecting growing institutional interest.
• Alphabet's stock recently had a consensus rating of "Moderate Buy" among analysts, with a target price of $235.63, driven by several price target increases from major investment banks.

Kathmere Capital Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,230 shares of the information services provider's stock after purchasing an additional 1,724 shares during the period. Kathmere Capital Management LLC's holdings in Alphabet were worth $2,155,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Investment Partners Asset Management Inc. increased its holdings in shares of Alphabet by 4.0% in the 2nd quarter. Investment Partners Asset Management Inc. now owns 18,234 shares of the information services provider's stock worth $3,213,000 after buying an additional 700 shares during the last quarter. Destiny Wealth Partners LLC increased its stake in Alphabet by 44.1% during the second quarter. Destiny Wealth Partners LLC now owns 56,323 shares of the information services provider's stock worth $9,926,000 after acquiring an additional 17,250 shares during the last quarter. ST Germain D J Co. Inc. raised its position in Alphabet by 0.4% during the second quarter. ST Germain D J Co. Inc. now owns 425,114 shares of the information services provider's stock valued at $74,918,000 after purchasing an additional 1,749 shares during the period. Swisher Financial Concepts Inc. lifted its stake in shares of Alphabet by 1.6% in the 2nd quarter. Swisher Financial Concepts Inc. now owns 6,397 shares of the information services provider's stock valued at $1,127,000 after purchasing an additional 100 shares during the last quarter. Finally, FCG Investment Co boosted its holdings in shares of Alphabet by 3.3% in the 2nd quarter. FCG Investment Co now owns 37,212 shares of the information services provider's stock worth $6,558,000 after purchasing an additional 1,177 shares during the period. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. DA Davidson raised their price target on Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Bank of America lifted their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Citigroup increased their price objective on shares of Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Royal Bank Of Canada boosted their target price on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Finally, Stifel Nicolaus increased their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.63.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $243.10 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.65 and a beta of 1.01. The firm's 50 day simple moving average is $218.05 and its 200-day simple moving average is $184.24. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,469 shares of company stock worth $46,586,752. 11.55% of the stock is currently owned by corporate 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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