Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Nemes Rush Group LLC

Key Points

• Nemes Rush Group LLC increased its stake in Alphabet Inc. by 2.0%, holding 71,186 shares valued at approximately $11.01 million, making it the firm's 25th largest position.
• Several institutional investors, including FMR LLC and Norges Bank, have significantly increased their holdings in Alphabet during the fourth quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing a 0.4% yield, with an 8.95% payout ratio.

Nemes Rush Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,186 shares of the information services provider's stock after buying an additional 1,380 shares during the period. Alphabet comprises approximately 1.4% of Nemes Rush Group LLC's holdings, making the stock its 25th largest holding. Nemes Rush Group LLC's holdings in Alphabet were worth $11,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet in the first quarter valued at about $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the first quarter valued at about $39,000. Finally, Elite Financial Inc. acquired a new stake in Alphabet in the first quarter worth about $42,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. JMP Securities upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Westpark Capital boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Loop Capital reissued a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research report on Tuesday. Finally, Citigroup lifted their price target on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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. This represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,219 shares of company stock valued at $49,474,273 over the last 90 days. Insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.5%

GOOGL traded up $1.06 during trading hours on Thursday, reaching $197.15. The company's stock had a trading volume of 6,982,988 shares, compared to its average volume of 36,774,332. The stock has a market cap of $2.38 trillion, a PE ratio of 20.96, a P/E/G ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 business's 50-day moving average is $179.76 and its 200-day moving average is $173.12.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The business 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Alphabet Company 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.