Slow Capital Inc. Raises Holdings in Alphabet Inc. $GOOGL

Key Points

• Slow Capital Inc. increased its holdings in Alphabet Inc. by 3.0% during Q2, now owning 118,740 shares valued at approximately $20.93 million.
• Alphabet recently reported earnings of $2.31 per share, exceeding the consensus estimate of $2.15, with revenue reaching $96.43 billion for the quarter.
• The company declared a quarterly dividend of $0.21 per share, with a dividend yield of 0.3% and a payout ratio of 8.95%.

Slow Capital Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,740 shares of the information services provider's stock after buying an additional 3,471 shares during the quarter. Alphabet comprises 2.6% of Slow Capital Inc.'s investment portfolio, making the stock its 9th largest position. Slow Capital Inc.'s holdings in Alphabet were worth $20,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its stake 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 purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 103 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction 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 sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 244,438 shares of company stock valued at $53,216,085 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Up 2.3%

GOOGL stock 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 business has a fifty day moving average price of $229.41 and a 200-day moving average price of $190.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.04 trillion, a P/E 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 posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group reiterated a "buy" rating and set a $288.00 price objective on shares of Alphabet in a research note on Tuesday. Moffett Nathanson lifted their price objective on Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. Tigress Financial lifted their price objective on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Finally, Citigroup lifted their price objective on Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Four 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, the company currently has an average rating of "Moderate Buy" and an average price target of $249.26.

About Alphabet

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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