Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by OV Management LLC

OV Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,136 shares of the information services provider’s stock after purchasing an additional 362 shares during the quarter. Alphabet comprises about 4.9% of OV Management LLC’s portfolio, making the stock its 4th biggest position. OV Management LLC’s holdings in Alphabet were worth $6,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 3Chopt Investment Partners LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $551,000. CAP Partners LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $259,000. Steward Partners Investment Advisory LLC boosted its stake in Alphabet by 3.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 858,015 shares of the information services provider’s stock valued at $119,856,000 after acquiring an additional 27,578 shares during the last quarter. TD Asset Management Inc boosted its stake in Alphabet by 7.1% in the fourth quarter. TD Asset Management Inc now owns 5,510,578 shares of the information services provider’s stock valued at $769,773,000 after acquiring an additional 366,921 shares during the last quarter. Finally, Portfolio Design Labs LLC acquired a new stake in Alphabet during the 4th quarter worth $6,344,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GOOGL shares. Wolfe Research assumed coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Guggenheim increased 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. Finally, Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.35.

Insider Transactions 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 transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock worth $29,878,106 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.7 %

GOOGL stock opened at $163.95 on Friday. The business’s 50 day simple moving average is $162.83 and its 200 day simple moving average is $166.49. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market capitalization of $2.03 trillion, a PE ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04. 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) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate 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 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Alphabet 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.