Randolph Co Inc Acquires 133,911 Shares of Alphabet Inc. $GOOGL

Key Points

• Randolph Co Inc acquired an additional 133,911 shares of Alphabet Inc., boosting its stake by 466.6% in the second quarter, now owning a total of 162,610 shares worth approximately $28.7 million.
• Several institutional investors, including Vanguard Group and UBS, have also recently increased their holdings in Alphabet, reflecting a strong interest in the company's stock among larger investors.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Randolph Co Inc grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 466.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,610 shares of the information services provider's stock after acquiring an additional 133,911 shares during the period. Alphabet comprises approximately 2.9% of Randolph Co Inc's investment portfolio, making the stock its 15th biggest holding. Randolph Co Inc's holdings in Alphabet were worth $28,657,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. grew its stake in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after buying an additional 104,859 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 103 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,469 shares of company stock valued at $46,586,752. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Down 0.4%

GOOGL opened at $243.10 on Wednesday. The business has a fifty day moving average price of $218.05 and a 200 day moving average price of $184.24. The stock has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.65 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts expect 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 paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Susquehanna upped their target price on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Sanford C. Bernstein raised their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Moffett Nathanson lifted their target price on shares of Alphabet from $230.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Finally, Stifel Nicolaus boosted their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $235.63.

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.

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