1,490 Shares in Alphabet Inc. $GOOGL Acquired by Verde Capital Management

Key Points

• Verde Capital Management has taken a new position in Alphabet Inc. worth approximately $263,000, purchasing 1,490 shares in the second quarter.
• Alphabet's recent quarterly earnings topped analysts' expectations, reporting $2.31 EPS and $96.43 billion in revenue for the quarter.
• The company has declared a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3% to be paid on September 15th.

Verde Capital Management bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,490 shares of the information services provider's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the first 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. purchased a new stake in shares of Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted its holdings in 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was 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 in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,588 shares of company stock worth $44,296,554. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.3%

Alphabet stock traded down $3.23 during trading on Wednesday, reaching $247.93. The stock had a trading volume of 16,884,440 shares, compared to its average volume of 36,685,898. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $253.04. The stock has a market cap of $3.00 trillion, a PE ratio of 26.40, a P/E/G ratio of 1.69 and a beta of 1.01. The business has a 50 day moving average price of $204.93 and a 200 day moving average price of $178.65.

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 for the quarter, beating 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 net margin of 31.12% and a return on equity of 34.31%. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. Bank of America increased their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Friday, June 27th. Morgan Stanley upped their price target on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company lifted their price objective on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $222.85.

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.