Elser Financial Planning Inc acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,798 shares of the information services provider's stock, valued at approximately $692,000.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider's stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $15,441,917,000. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider's stock valued at $6,316,902,000 after buying an additional 1,472,043 shares in the last quarter. Finally, Capital World Investors increased its stake in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider's stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded down $1.83 during midday trading on Wednesday, reaching $162.85. The company's stock had a trading volume of 16,352,964 shares, compared to its average volume of 27,713,432. The firm has a market capitalization of $2.01 trillion, a PE ratio of 24.98, a P/E/G ratio of 1.28 and a beta of 1.05. The stock has a fifty day moving average of $174.30 and a 200 day moving average of $163.55. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the business earned $1.44 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.62 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet's dividend payout ratio (DPR) is presently 12.27%.
Analyst Ratings Changes
Several analysts have recently issued reports on GOOGL shares. Loop Capital restated a "hold" rating and set a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Citigroup upped their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Truist Financial raised their price objective on shares of Alphabet from $190.00 to $196.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Evercore ISI upped their target price on Alphabet from $220.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, June 11th. Finally, TD Securities raised their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $203.74.
Read Our Latest Research Report on GOOGL
Insider Activity at Alphabet
In other news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company's stock, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $115,500.00. Following the transaction, the director now 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 a total of 156,565 shares of company stock worth $26,823,893 in the last 90 days. Corporate insiders own 11.55% of the company's stock.
Alphabet Company Profile
(
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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
