Dover Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,746 shares of the information services provider’s stock after buying an additional 1,313 shares during the quarter. Alphabet accounts for approximately 2.6% of Dover Advisors LLC’s holdings, making the stock its 5th biggest holding. Dover Advisors LLC’s holdings in Alphabet were worth $4,143,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC boosted its position in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC boosted its position in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Joseph P. Lucia & Associates LLC grew its stake in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its position in shares of Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders sold a total of 179,367 shares of company stock valued at $30,016,931 in the last quarter. Corporate insiders own 11.55% of the company’s stock.
Alphabet Trading Up 2.3 %
Shares of Alphabet stock opened at $154.69 on Friday. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company’s fifty day simple moving average is $168.12 and its 200-day simple moving average is $164.36. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the business posted $1.44 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio is 12.27%.
Analyst Ratings Changes
GOOGL has been the topic of a number of research analyst reports. Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald initiated coverage on shares of Alphabet in a research note on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, August 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.
View Our Latest Research Report on GOOGL
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.
Further Reading
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