Naples Global Advisors LLC Acquires 4,042 Shares of Alphabet Inc. $GOOGL

Naples Global Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,703 shares of the information services provider's stock after buying an additional 4,042 shares during the quarter. Naples Global Advisors LLC's holdings in Alphabet were worth $7,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Missouri Trust & Investment Co lifted its position in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock valued at $2,981,000 after purchasing an additional 55 shares during the period. AM Investment Strategies LLC lifted its position in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after purchasing an additional 57 shares during the period. Bfsg LLC lifted its position in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock valued at $1,838,000 after purchasing an additional 59 shares during the period. Enzi Wealth lifted its position in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Finally, Powers Advisory Group LLC lifted its position in Alphabet by 1.8% during the 2nd quarter. Powers Advisory Group LLC now owns 3,562 shares of the information services provider's stock valued at $628,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the transaction, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred 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 sale, the insider 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GOOGL shares. Wells Fargo & Company set a $236.00 target price on shares of Alphabet and gave the company an "equal weight" rating in a research report on Tuesday. Royal Bank Of Canada upped their target price on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. KeyCorp upped their price target on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Finally, Citigroup upped their price target on Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $242.98.

Alphabet Trading Down 0.5%

Shares of Alphabet stock opened at $244.62 on Thursday. The business has a fifty day simple moving average of $224.37 and a two-hundred day simple moving average of $187.53. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

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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