Boothe Investment Group Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,352 shares of the information services provider's stock after selling 13,885 shares during the period. Alphabet makes up about 2.7% of Boothe Investment Group Inc.'s investment portfolio, making the stock its 17th largest holding. Boothe Investment Group Inc.'s holdings in Alphabet were worth $5,737,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 59.2% in the first 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 increased its stake in 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 buying an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have weighed in on GOOGL shares. BMO Capital Markets restated an "outperform" rating and issued a $222.00 price target on shares of Alphabet in a research note on Tuesday, August 6th. TD Securities raised their target price on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Royal Bank of Canada upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Bank of America lifted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Finally, Tigress Financial upped their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a "strong-buy" rating in a report on Friday, May 24th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.74.
View Our Latest Stock Report on Alphabet
Alphabet Trading Up 1.0 %
GOOGL traded up $1.60 during trading on Friday, reaching $163.38. 22,116,907 shares of the company's stock were exchanged, compared to its average volume of 27,633,025. The firm has a fifty day moving average price of $173.77 and a two-hundred day moving average price of $163.54. The stock has a market capitalization of $2.02 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. 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 data 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm earned $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently announced 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 0.49%. Alphabet's dividend payout ratio is currently 12.27%.
Insider Buying and Selling at Alphabet
In related news, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company's stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares of the company's stock, valued at $394,746,532.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,565 shares of company stock valued at $26,823,893. 11.55% of the stock is currently owned by company insiders.
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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