Solitude Financial Services Makes New $215,000 Investment in Alphabet Inc. $GOOGL

Key Points

• Solitude Financial Services has made a new investment of $215,000 in Alphabet Inc., acquiring 1,218 shares during the second quarter.
• Alphabet recently reported earnings of $2.31 per share for the last quarter, exceeding estimates of $2.15, with a revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3% and a payout ratio of 8.95%.

Solitude Financial Services bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,218 shares of the information services provider's stock, valued at approximately $215,000.

A number of other hedge funds have also bought and sold shares of the business. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during 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 last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter worth 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 worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 2.3%

Shares of GOOGL opened at $251.03 on Thursday. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a 50 day simple moving average of $229.41 and a two-hundred day simple moving average of $190.28. The firm has a market cap of $3.04 trillion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $93.60 billion. On average, equities analysts expect 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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. DA Davidson increased their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. HSBC started coverage on shares of Alphabet in a research note on Tuesday, October 7th. They issued a "buy" rating and a $285.00 price objective on the stock. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Finally, Loop Capital reissued a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $249.26.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 244,438 shares of company stock valued at $53,216,085 over the last quarter. 11.64% of the stock is owned by insiders.

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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