Seros Financial LLC Makes New Investment in Alphabet Inc. $GOOGL

Key Points

• Seros Financial LLC made a new investment in Alphabet Inc. by purchasing 1,314 shares valued at approximately $232,000 during the second quarter.
• Alphabet reported better-than-expected earnings for the quarter with an EPS of $2.31, exceeding analyst estimates of $2.15, and achieved a revenue of $96.43 billion compared to expectations of $93.60 billion.
• The company announced a quarterly dividend of $0.21, translating to an annualized dividend yield of 0.4%, with a payout ratio currently at 8.95%.

Seros Financial LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,314 shares of the information services provider's stock, valued at approximately $232,000.

Other large investors also recently bought and sold shares of the company. Custos Family Office LLC raised its position in shares of Alphabet by 32.3% during the 2nd quarter. Custos Family Office LLC now owns 1,994 shares of the information services provider's stock worth $351,000 after purchasing an additional 487 shares during the period. Verus Financial Partners Inc. raised its position in shares of Alphabet by 9.2% during the 2nd quarter. Verus Financial Partners Inc. now owns 2,710 shares of the information services provider's stock worth $479,000 after purchasing an additional 228 shares during the period. Mattern Capital Management LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $260,000. Cromwell Holdings LLC raised its position in shares of Alphabet by 2.2% during the 2nd quarter. Cromwell Holdings LLC now owns 15,649 shares of the information services provider's stock worth $2,758,000 after purchasing an additional 337 shares during the period. Finally, Ashton Thomas Securities LLC raised its position in shares of Alphabet by 2.2% during the 2nd quarter. Ashton Thomas Securities LLC now owns 22,671 shares of the information services provider's stock worth $3,995,000 after purchasing an additional 484 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 2.1%

Shares of GOOGL stock opened at $236.57 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The stock has a market cap of $2.86 trillion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The business's fifty day moving average is $226.31 and its 200-day moving average is $188.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday. Wolfe Research increased their price target on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Roth Capital raised their target price on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $245.88.

Insider Buying and Selling

In related news, 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 value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction 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 completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last three months. 11.64% of the stock is currently owned by insiders.

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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