Talbot Financial LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 229,273 shares of the information services provider's stock after purchasing an additional 37,585 shares during the quarter. Alphabet comprises approximately 3.8% of Talbot Financial LLC's holdings, making the stock its 5th biggest holding. Talbot Financial LLC's holdings in Alphabet were worth $40,654,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its holdings 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 acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on GOOGL shares. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Loop Capital restated a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Guggenheim lifted their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, KeyCorp lifted their target price on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.88.
Check Out Our Latest Stock Report on Alphabet
Insider Buying and Selling
In other news, Director Frances Arnold sold 103 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,338 shares of company stock worth $59,062,683. 11.64% of the stock is currently owned by insiders.
Alphabet Stock Performance
Shares of GOOGL stock opened at $236.57 on Monday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. 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 firm has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. The company's fifty day moving average price is $226.31 and its two-hundred day moving average price is $188.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts anticipate 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. Stockholders of record on Monday, September 8th were given 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 0.4%. Alphabet's payout ratio is presently 8.95%.
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.
See Also
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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