River Street Advisors LLC Acquires 2,739 Shares of Alphabet Inc. $GOOGL

River Street Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,247 shares of the information services provider's stock after buying an additional 2,739 shares during the quarter. Alphabet comprises approximately 1.5% of River Street Advisors LLC's portfolio, making the stock its 14th biggest position. River Street Advisors LLC's holdings in Alphabet were worth $3,392,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.3%

Shares of NASDAQ:GOOGL opened at $241.53 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The stock has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.65 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $225.37 and a 200-day moving average price of $188.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% 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 90 days. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GOOGL shares. Jefferies Financial Group upped their price objective on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Bank of America upped their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. HSBC initiated coverage on Alphabet in a research report on Tuesday. They set a "buy" rating and a $285.00 price target on the stock. BMO Capital Markets set a $294.00 price target on Alphabet and gave the stock an "outperform" rating in a research report on Thursday. Finally, Oppenheimer restated an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $244.62.

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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