Capstone Triton Financial Group LLC Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Capstone Triton Financial Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,276 shares of the information services provider’s stock, valued at approximately $232,000.

A number of other institutional investors also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew its stake in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Capital Research Global Investors grew its position in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Alphabet by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock valued at $6,310,925,000 after acquiring an additional 1,429,261 shares in the last quarter. Finally, Capital World Investors lifted its stake in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Mizuho boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $196.00 price objective on shares of Alphabet in a research report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, September 25th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price on shares of Alphabet in a report on Monday. Finally, Citigroup raised 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. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.14.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on 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 owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold 217,592 shares of company stock worth $35,922,911 over the last 90 days. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.86 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.05 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock has a fifty day moving average of $162.06 and a 200-day moving average of $167.00. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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 company posted $1.44 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 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.