Parsons Capital Management Inc. RI reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,570 shares of the information services provider's stock after selling 38,940 shares during the period. Alphabet makes up about 1.6% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 10th largest position. Parsons Capital Management Inc. RI's holdings in Alphabet were worth $25,478,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
Alphabet stock opened at $244.62 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.96 trillion, a P/E ratio of 26.05, a P/E/G ratio of 1.66 and a beta of 1.00. The business's fifty day moving average is $224.37 and its two-hundred day moving average is $187.53. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 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%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 over the last 90 days. 11.64% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on GOOGL shares. Loop Capital restated a "hold" rating and set a $190.00 price objective (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. KeyCorp boosted their price objective on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Wedbush boosted their price objective on Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Finally, JMP Securities boosted their price target on Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research note on Friday, September 19th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $242.98.
Check Out Our Latest Report on Alphabet
Alphabet Company 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.
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