One Capital Management LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

One Capital Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 56.7% during the 2nd quarter, Holdings Channel reports. The firm owned 38,969 shares of the information services provider’s stock after acquiring an additional 14,105 shares during the period. One Capital Management LLC’s holdings in Alphabet were worth $7,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nebula Research & Development LLC purchased a new stake in Alphabet during the fourth quarter worth about $787,000. New Hampshire Trust increased its stake in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares during the period. Finally, American International Group Inc. lifted its stake in Alphabet by 11.5% in the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after purchasing an additional 200,891 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $163.95 on Monday. The stock has a 50-day moving average of $162.83 and a 200-day moving average of $166.68. 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 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market cap of $2.03 trillion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. Argus boosted their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, August 30th. TD Securities lifted their target price on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, UBS Group raised their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, 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 filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,605 shares of company stock valued at $29,277,931. Insiders own 11.55% of the company’s stock.

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.