Davidson Capital Management Inc. Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Davidson Capital Management Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,334 shares of the information services provider’s stock after purchasing an additional 1,022 shares during the period. Alphabet accounts for 1.0% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Davidson Capital Management Inc.’s holdings in Alphabet were worth $3,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Capital Research Global Investors grew its stake 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 valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. grew its position in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares during the period. Wulff Hansen & CO. raised its position in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its stake in shares of Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a report on Monday. Truist Financial reaffirmed a “buy” rating and set a $196.00 price objective on shares of Alphabet in a report on Monday, September 16th. Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock worth $35,922,911 over the last three months. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL opened at $165.86 on Friday. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.44, 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 debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50-day moving average of $162.06 and a two-hundred day moving average of $167.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during 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 quarter in the prior year, the business posted $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Alphabet Company 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.