Alphabet Inc. (NASDAQ:GOOGL) Stake Lifted by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 34.5% during the second quarter, Holdings Channel reports. The fund owned 35,046 shares of the information services provider’s stock after buying an additional 8,995 shares during the period. Alphabet makes up approximately 1.5% of Hohimer Wealth Management LLC’s portfolio, making the stock its 8th largest position. Hohimer Wealth Management LLC’s holdings in Alphabet were worth $6,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Nebula Research & Development LLC bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $787,000. New Hampshire Trust raised its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Matisse Capital raised its position in shares of Alphabet by 13.7% in the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after purchasing an additional 2,026 shares during the period. Berkshire Money Management Inc. bought a new stake in shares of Alphabet in the first quarter valued at approximately $359,000. Finally, Schneider Downs Wealth Management Advisors LP raised its position in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Morgan Stanley lowered their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Jefferies Financial Group upped their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Piper Sandler decreased their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Truist Financial reaffirmed a “buy” rating and set a $196.00 target price on shares of Alphabet in a report on Monday. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Stock Up 0.3 %

Shares of NASDAQ GOOGL opened at $159.81 on Thursday. 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 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market capitalization of $1.97 trillion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm has a fifty day simple moving average of $165.62 and a two-hundred day simple moving average of $165.13.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the business earned $1.44 EPS. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,167 shares of company stock worth $29,762,606. 11.55% of the stock is currently owned by corporate insiders.

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.