1832 Asset Management L.P. Purchases 2,648,717 Shares of Alphabet Inc. (NASDAQ:GOOGL)

1832 Asset Management L.P. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 127.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,718,934 shares of the information services provider’s stock after purchasing an additional 2,648,717 shares during the period. Alphabet makes up about 0.7% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 13th largest position. 1832 Asset Management L.P.’s holdings in Alphabet were worth $859,554,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC lifted its position in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC grew its holdings in shares of Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after buying an additional 64 shares in the last quarter. Finally, Sunflower Bank N.A. grew its stake in Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,592 shares of company stock valued at $35,922,911. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.7 %

GOOGL stock opened at $167.06 on Friday. The company’s 50 day moving average price is $162.06 and its 200 day moving average price is $167.14. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. 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 12.27%.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research note on Monday, September 16th. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. TD Securities raised their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

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.