Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Studio Investment Management LLC

Studio Investment Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,561 shares of the information services provider’s stock after purchasing an additional 673 shares during the period. Alphabet accounts for about 2.3% of Studio Investment Management LLC’s portfolio, making the stock its 10th biggest position. Studio Investment Management LLC’s holdings in Alphabet were worth $9,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter worth approximately $36,000. Finally, Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter worth approximately $41,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,867 shares of company stock worth $29,878,106. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $162.29 on Wednesday. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a fifty day moving average of $163.80 and a 200 day moving average of $166.17. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during 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 quarter last year, the business posted $1.44 EPS. As a group, research 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOOGL shares. Citigroup increased their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Monday. Piper Sandler dropped their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Guggenheim increased their price objective on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Eight 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.08.

About Alphabet

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.