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M Holdings Securities Inc. Has $6.70 Million Stake in Alphabet Inc. $GOOGL

Alphabet logo with Computer and Technology background

Key Points

  • M Holdings Securities Inc. increased its stake in Alphabet Inc. by 9.5%, holding 43,340 shares valued at approximately $6.70 million.
  • Alphabet recently declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th.
  • Several analysts have raised their target price for Alphabet, with Morgan Stanley increasing it from $185.00 to $205.00, reflecting a generally favorable outlook on the stock.
  • Looking to export and analyze Alphabet data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

M Holdings Securities Inc. grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,340 shares of the information services provider's stock after buying an additional 3,775 shares during the period. Alphabet accounts for approximately 1.1% of M Holdings Securities Inc.'s investment portfolio, making the stock its 19th largest holding. M Holdings Securities Inc.'s holdings in Alphabet were worth $6,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mystic Asset Management Inc. increased its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co increased its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $3,119,000. Cypress Capital LLC increased its stake in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after buying an additional 563 shares during the period. Finally, Falcon Wealth Planning increased its stake in shares of Alphabet by 15.7% in the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after buying an additional 1,340 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 3.2%

Shares of GOOGL stock opened at $206.09 on Friday. 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 stock has a market cap of $2.49 trillion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a 50 day simple moving average of $186.81 and a 200 day simple moving average of $173.37. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $208.54.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company'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 sale, the insider owned 42,999 shares of the company's stock, valued at $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 have sold 254,719 shares of company stock valued at $47,223,172 over the last ninety days. Company insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Morgan Stanley lifted their target price on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Truist Financial reaffirmed a "buy" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Barclays upped their target price on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Loop Capital reissued a "hold" rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

View Our Latest Stock Report on GOOGL

Alphabet 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.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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