Toth Financial Advisory Corp Acquires 6,600 Shares of Alphabet Inc. $GOOGL

Key Points

• Toth Financial Advisory Corp increased its stake in Alphabet Inc. by 8.4%, acquiring an additional 6,600 shares in the second quarter, bringing its total to 84,947 shares.
• Alphabet recently reported a quarterly EPS of $2.31, exceeding expectations of $2.15, with revenues reaching $96.43 billion.
• Following the announcement of a $0.21 per share quarterly dividend, Alphabet's dividend yield stands at 0.3% with a payout ratio of 8.95%.

Toth Financial Advisory Corp grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,947 shares of the information services provider's stock after purchasing an additional 6,600 shares during the quarter. Alphabet makes up approximately 1.7% of Toth Financial Advisory Corp's holdings, making the stock its 11th biggest holding. Toth Financial Advisory Corp's holdings in Alphabet were worth $14,970,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GOOGL. Abacus Wealth Partners LLC boosted its stake in Alphabet by 5.5% in the second quarter. Abacus Wealth Partners LLC now owns 3,770 shares of the information services provider's stock valued at $664,000 after acquiring an additional 197 shares during the last quarter. Southland Equity Partners LLC boosted its position in shares of Alphabet by 8.2% in the 2nd quarter. Southland Equity Partners LLC now owns 2,434 shares of the information services provider's stock worth $429,000 after purchasing an additional 185 shares during the last quarter. Abound Wealth Management boosted its position in shares of Alphabet by 30.6% in the 2nd quarter. Abound Wealth Management now owns 5,240 shares of the information services provider's stock worth $923,000 after purchasing an additional 1,229 shares during the last quarter. Capstone Wealth Management LLC boosted its position in shares of Alphabet by 7.1% in the 2nd quarter. Capstone Wealth Management LLC now owns 1,567 shares of the information services provider's stock worth $276,000 after purchasing an additional 104 shares during the last quarter. Finally, Palacios Wealth Management LLC boosted its position in shares of Alphabet by 134.6% in the 2nd quarter. Palacios Wealth Management LLC now owns 12,852 shares of the information services provider's stock worth $2,265,000 after purchasing an additional 7,374 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 0.3%

Shares of NASDAQ:GOOGL opened at $251.66 on Wednesday. The company's 50-day moving average price is $212.18 and its two-hundred day moving average price is $181.45. 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 one year low of $140.53 and a one year high of $256.00. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOGL shares. Cantor Fitzgerald raised their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Barclays lifted their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Susquehanna lifted 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. UBS Group lifted their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $231.31.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. Insiders own 11.55% of the company's stock.

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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