Blackston Financial Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 222.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,670 shares of the information services provider's stock after buying an additional 3,220 shares during the period. Alphabet makes up about 0.5% of Blackston Financial Advisory Group LLC's investment portfolio, making the stock its 25th largest holding. Blackston Financial Advisory Group LLC's holdings in Alphabet were worth $851,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $38,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC lifted its stake in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider's stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on GOOGL shares. UBS Group raised their target price on Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Barclays raised their target price on Alphabet from $173.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Piper Sandler lifted their price objective on Alphabet from $200.00 to $206.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $203.74.
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Alphabet Stock Performance
Shares of GOOGL traded up $0.51 during midday trading on Tuesday, reaching $167.18. The stock had a trading volume of 18,318,039 shares, compared to its average volume of 28,117,072. The firm has a 50 day simple moving average of $175.42 and a 200-day simple moving average of $162.87. The firm has a market cap of $2.07 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.28 and a beta of 1.05. 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 Inc. has a one year low of $120.21 and a one year high of $191.75.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating 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 in the prior year, the firm earned $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet's dividend payout ratio (DPR) is 12.27%.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company's stock, valued at approximately $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 700 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares of the company's stock, valued at approximately $4,838,460. The disclosure for this sale can be found here. Insiders sold 134,065 shares of company stock valued at $23,051,543 in the last quarter. Company insiders own 11.55% of the company's stock.
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.
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