Menard Financial Group LLC Has $2.42 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Menard Financial Group LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,270 shares of the information services provider’s stock after purchasing an additional 92 shares during the quarter. Alphabet accounts for 1.7% of Menard Financial Group LLC’s holdings, making the stock its 9th biggest position. Menard Financial Group LLC’s holdings in Alphabet were worth $2,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. American Planning Services Inc. boosted its stake in Alphabet by 500.1% in the 2nd quarter. American Planning Services Inc. now owns 16,587 shares of the information services provider’s stock worth $3,021,000 after purchasing an additional 13,823 shares during the period. Quantbot Technologies LP grew its holdings in shares of Alphabet by 4,759.5% during the second quarter. Quantbot Technologies LP now owns 56,565 shares of the information services provider’s stock valued at $10,303,000 after buying an additional 55,401 shares in the last quarter. Sierra Summit Advisors LLC raised its position in Alphabet by 2.9% during the second quarter. Sierra Summit Advisors LLC now owns 83,042 shares of the information services provider’s stock valued at $15,126,000 after buying an additional 2,373 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Alphabet by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 17,520,067 shares of the information services provider’s stock worth $3,191,561,000 after purchasing an additional 1,102,269 shares during the period. Finally, Wealth Dimensions Group Ltd. raised its holdings in shares of Alphabet by 2.8% during the second quarter. Wealth Dimensions Group Ltd. now owns 5,782 shares of the information services provider’s stock worth $1,053,000 after acquiring an additional 159 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Evercore ISI reduced their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. BMO Capital Markets reissued an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a report on Monday, September 16th. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, September 5th. Finally, Morgan Stanley cut their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Eight 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $201.35.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,605 shares of company stock worth $29,277,931. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $163.95 on Monday. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. 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 firm has a fifty day moving average of $162.83 and a 200-day moving average of $166.68.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business earned $1.44 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued 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 presently 12.27%.

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.