Silverberg Bernstein Capital Management LLC Makes New $553,000 Investment in Alphabet Inc. $GOOGL

Key Points

• Silverberg Bernstein Capital Management LLC has made a new investment of approximately $553,000 in Alphabet Inc. (GOOGL) by acquiring 3,140 shares during the second quarter.
• Insider transactions showed significant activity, with John Kent Walker selling 23,820 shares and CEO Sundar Pichai selling 32,500 shares, marking reductions in their holdings.
• Alphabet's stock is currently rated as a "Moderate Buy" by analysts, with an average target price of $222.85, following several upward adjustments in price estimates.

Silverberg Bernstein Capital Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,140 shares of the information services provider's stock, valued at approximately $553,000.

Several other large investors have also made changes to their positions in GOOGL. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE lifted its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Alphabet by 6.4% during the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock worth $14,985,000 after purchasing an additional 4,756 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in shares of Alphabet by 5.7% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 2,841,578 shares of the information services provider's stock worth $537,911,000 after purchasing an additional 152,420 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Rosenblatt Securities boosted their price target on Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald boosted their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Susquehanna boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $222.85.

Insider Buying and Selling

In other 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 225,588 shares of company stock worth $44,296,554. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.2%

NASDAQ GOOGL opened at $251.16 on Wednesday. The firm has a market cap of $3.04 trillion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $253.04. The stock's 50 day simple moving average is $204.93 and its 200 day simple moving average is $178.65. 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 results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share 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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

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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