Robbins Farley Boosts Stock Position in Alphabet Inc. $GOOGL

Key Points

• Robbins Farley increased its stock position in Alphabet Inc. by 10.4% during the 2nd quarter, bringing its total holdings to 21,294 shares valued at approximately $3.75 million.
• Insider transactions included sales by Director Kavitark Ram Shriram and CEO Sundar Pichai, who sold shares worth $3.45 million and $5.99 million, respectively, indicating a slight reduction in their ownership stakes.
• Several analysts have raised their target prices for Alphabet's stock, with a consensus rating of "Moderate Buy" and an average target price of $240.76, reflecting optimistic market sentiment.

Robbins Farley raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,294 shares of the information services provider's stock after purchasing an additional 2,013 shares during the quarter. Robbins Farley's holdings in Alphabet were worth $3,753,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in Alphabet during the first quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its holdings in Alphabet by 85.7% during the first 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 during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the first quarter worth about $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 over the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on GOOGL shares. Wells Fargo & Company raised their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Saturday, September 27th. Westpark Capital increased their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JMP Securities increased their price target on Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research report on Friday, September 19th. Finally, Guggenheim increased 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. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $240.76.

Alphabet Stock Performance

NASDAQ GOOGL opened at $245.35 on Monday. The company has a market cap of $2.97 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The stock's 50 day simple moving average is $221.25 and its 200-day simple moving average is $186.12. Alphabet Inc. has a 1-year low of $140.53 and a 1-year 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 earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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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