Seamount Financial Group Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 31.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,592 shares of the information services provider's stock after acquiring an additional 1,102 shares during the period. Seamount Financial Group Inc.'s holdings in Alphabet were worth $809,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of 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 valued at $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its holdings in 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 buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
NASDAQ:GOOGL opened at $251.03 on Thursday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $229.41 and a 200 day simple moving average of $190.28. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.73, a P/E/G ratio of 1.66 and a beta of 1.00.
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. 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. On average, research analysts expect 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. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 of the company's stock, 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. Insiders sold a total of 244,438 shares of company stock valued at $53,216,085 over the last three months. Corporate insiders own 11.64% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Bank of America raised their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating and set a $288.00 target price on shares of Alphabet in a report on Tuesday. Wedbush raised their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Guggenheim raised their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Tigress Financial raised their target price on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Friday, September 5th. Four research 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 currently has a consensus rating of "Moderate Buy" and an average target price of $249.26.
Check Out Our Latest Research Report on GOOGL
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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