Paragon Capital Management Ltd Purchases New Shares in Alphabet Inc. $GOOGL

Key Points

• Paragon Capital Management Ltd has purchased 1,225 shares of Alphabet Inc. valued at approximately $216,000, reflecting continued interest in the company from institutional investors.
• Several analysts have raised their price targets for Alphabet, with Tigress Financial setting a new target of $280, indicating strong confidence in the company's performance.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for over $8 million, which represents a 1.34% decrease in his position, amidst ongoing insider transactions.

Paragon Capital Management Ltd purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,225 shares of the information services provider's stock, valued at approximately $216,000.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings 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 worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Rhumbline Advisers grew its holdings in Alphabet by 0.8% during the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock worth $1,742,444,000 after acquiring an additional 86,670 shares in the last quarter. Triangle Securities Wealth Management grew its holdings in Alphabet by 2.3% during the 1st quarter. Triangle Securities Wealth Management now owns 4,809 shares of the information services provider's stock worth $744,000 after acquiring an additional 108 shares in the last quarter. Finally, Apella Capital LLC grew its holdings in Alphabet by 50.6% during the 1st quarter. Apella Capital LLC now owns 12,820 shares of the information services provider's stock worth $2,035,000 after acquiring an additional 4,305 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,285 shares of company stock worth $50,994,787 over the last 90 days. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Tigress Financial raised their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Friday, September 5th. Morgan Stanley raised their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Truist Financial raised their price objective on shares of Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Westpark Capital raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $237.10.

Alphabet Trading Up 0.7%

Shares of NASDAQ:GOOGL opened at $244.90 on Thursday. The company has a market cap of $2.96 trillion, a PE ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. The company's 50-day moving average price is $219.14 and its 200 day moving average price is $184.66. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. 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 issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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.

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