L & S Advisors Inc boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,080 shares of the information services provider's stock after purchasing an additional 1,264 shares during the quarter. Alphabet makes up approximately 1.1% of L & S Advisors Inc's holdings, making the stock its 19th biggest position. L & S Advisors Inc's holdings in Alphabet were worth $8,672,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter valued at $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet during the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the 1st quarter valued at $39,000. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet during the 4th quarter valued at $49,000. 40.03% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,219 shares of company stock valued at $49,674,273. Insiders own 11.55% of the company's stock.
Alphabet Price Performance
GOOGL traded down $1.03 during trading on Wednesday, hitting $202.31. The company's stock had a trading volume of 9,922,316 shares, compared to its average volume of 36,638,750. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $182.27 and its 200 day simple moving average is $173.02. The firm has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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 $96,428,000 billion for 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, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is currently 8.95%.
Analyst Ratings Changes
A number of research firms have weighed in on GOOGL. Wedbush increased their target price on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada increased their target price on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Cantor Fitzgerald increased their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Guggenheim increased their target price on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets increased their target price on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $211.53.
Read Our Latest Stock 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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