Alphabet Inc. (NASDAQ:GOOGL) Position Lifted by Golden Road Advisors LLC

Golden Road Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,390 shares of the information services provider’s stock after purchasing an additional 176 shares during the period. Alphabet accounts for approximately 0.4% of Golden Road Advisors LLC’s holdings, making the stock its 24th biggest holding. Golden Road Advisors LLC’s holdings in Alphabet were worth $452,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $30,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter worth $36,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% during 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 during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 2.3 %

Shares of Alphabet stock opened at $154.69 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The firm has a market capitalization of $1.91 trillion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $168.12 and its 200-day moving average is $164.36.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction 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 transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, 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 completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 179,367 shares of company stock worth $30,016,931 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Tigress Financial upped their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Morgan Stanley cut their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Cantor Fitzgerald assumed coverage on Alphabet in a research note on Thursday, September 5th. They set a “neutral” rating and a $190.00 price objective for the company. Finally, Evercore ISI raised 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. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Company Profile

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.