Nations Financial Group Inc. IA ADV Boosts Holdings in Alphabet Inc. $GOOGL

Key Points

• Nations Financial Group Inc. IA ADV increased its stake in Alphabet Inc. by 8.1%, owning a total of 61,242 shares valued at approximately $9.47 million as of the latest SEC filing.
• Alphabet's recent earnings report showed an EPS of $2.31, surpassing analysts' expectations and leading to a net margin of 31.12% alongside significant revenue growth.
• The firm announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, scheduled for payment on September 15th.

Nations Financial Group Inc. IA ADV increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,242 shares of the information services provider's stock after acquiring an additional 4,599 shares during the quarter. Alphabet comprises 0.7% of Nations Financial Group Inc. IA ADV's holdings, making the stock its 27th biggest position. Nations Financial Group Inc. IA ADV's holdings in Alphabet were worth $9,470,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOGL. Eagle Capital Management LLC raised its stake in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC increased its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE increased its stake in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC increased its stake in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after purchasing an additional 13,564 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $6.34 during midday trading on Friday, reaching $206.09. The company's stock had a trading volume of 42,770,206 shares, compared to its average volume of 31,218,810. The firm has a market capitalization of $2.49 trillion, a PE ratio of 21.95, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $208.54. The stock has a fifty day moving average of $186.81 and a 200 day moving average of $173.37. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, equities analysts expect 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. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. DA Davidson upped their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Barclays upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Truist Financial restated a "buy" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,719 shares of company stock valued at $47,223,172. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Profile

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.