Azzad Asset Management Inc. ADV Purchases 4,923 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Azzad Asset Management Inc. ADV raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,748 shares of the information services provider’s stock after acquiring an additional 4,923 shares during the quarter. Alphabet comprises approximately 2.1% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 5th largest position. Azzad Asset Management Inc. ADV’s holdings in Alphabet were worth $18,368,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. New Hampshire Trust grew its holdings in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new position in Alphabet in the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP raised its holdings in 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 acquiring an additional 2,351 shares during the period. Sanders Morris Harris LLC acquired a new position in Alphabet during the 1st quarter worth $842,000. Finally, SWP Financial LLC bought a new stake in Alphabet during the fourth quarter valued at about $200,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,092 shares of company stock valued at $35,644,136. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial restated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research note on Monday, September 16th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. 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. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.13.

Alphabet Stock Up 1.1 %

Shares of GOOGL opened at $164.96 on Tuesday. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 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. The business’s fifty day moving average price is $161.49 and its two-hundred day moving average price is $167.96.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio 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.