Augustine Asset Management Inc. Acquires 120 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Augustine Asset Management Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,496 shares of the information services provider’s stock after acquiring an additional 120 shares during the period. Augustine Asset Management Inc.’s holdings in Alphabet were worth $455,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% during the 2nd 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 Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in Alphabet in the 1st quarter valued at $30,000. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter valued at $36,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Citigroup lifted 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. Evercore ISI boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 179,367 shares of company stock valued at $30,016,931 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04. The company’s fifty day moving average is $167.46 and its two-hundred day moving average is $164.67. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 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 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.