Pathway Financial Advisers LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pathway Financial Advisers LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 43.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,703 shares of the information services provider's stock after acquiring an additional 2,027 shares during the quarter. Pathway Financial Advisers LLC's holdings in Alphabet were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in shares of 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 purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $39,000. Finally, Elite Financial Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 2.5%

GOOGL stock opened at $201.42 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.44 trillion, a P/E ratio of 21.45, a PEG ratio of 1.36 and a beta of 1.01. The business's 50-day moving average price is $180.89 and its 200-day moving average price is $172.98.

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, beating analysts' consensus estimates 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 $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. 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 presently 8.95%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,219 shares of company stock valued at $49,474,273 in the last ninety days. Corporate insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. Sanford C. Bernstein lifted their price target on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Guggenheim lifted their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus lifted their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Finally, Westpark Capital lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a 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. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $211.53.

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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