Patton Albertson Miller Group LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,769 shares of the information services provider's stock after purchasing an additional 4,077 shares during the period. Alphabet accounts for 1.4% of Patton Albertson Miller Group LLC's portfolio, making the stock its 15th largest holding. Patton Albertson Miller Group LLC's holdings in Alphabet were worth $10,533,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Missouri Trust & Investment Co grew its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its stake in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after acquiring an additional 57 shares during the last quarter. Bfsg LLC grew its stake in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after acquiring an additional 59 shares during the last quarter. Enzi Wealth grew its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares during the last quarter. Finally, Park Capital Management LLC WI grew its stake in shares of Alphabet by 1.1% in the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock worth $1,058,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several research analyst reports. 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 research note on Monday, September 22nd. Needham & Company LLC lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Bank of America lifted their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Susquehanna lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $240.76.
Get Our Latest Stock Report on GOOGL
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 42,999 shares of the company's stock, valued at $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 sold 276,738 shares of company stock valued at $59,135,475 over the last ninety days. 11.64% of the stock is owned by insiders.
Alphabet Stock Performance
Alphabet stock opened at $245.35 on Friday. The stock has a 50-day simple moving average of $221.25 and a 200 day simple moving average of $185.80. 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 Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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 business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
About Alphabet
(
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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