Freedom Day Solutions LLC Has $3.62 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Freedom Day Solutions LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, Holdings Channel reports. The firm owned 19,882 shares of the information services provider’s stock after acquiring an additional 566 shares during the quarter. Alphabet comprises approximately 1.2% of Freedom Day Solutions LLC’s investment portfolio, making the stock its 15th biggest position. Freedom Day Solutions LLC’s holdings in Alphabet were worth $3,621,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Tennessee Valley Asset Management Partners bought a new stake in Alphabet during the fourth quarter worth $100,000. Castle Wealth Management LLC raised its holdings in shares of Alphabet by 8.1% in the 4th quarter. Castle Wealth Management LLC now owns 8,092 shares of the information services provider’s stock valued at $1,130,000 after purchasing an additional 606 shares during the period. J.W. Cole Advisors Inc. grew its holdings in Alphabet by 9.7% during the fourth quarter. J.W. Cole Advisors Inc. now owns 70,830 shares of the information services provider’s stock worth $9,894,000 after purchasing an additional 6,236 shares during the period. MontVue Capital Management Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $229,000. Finally, Ipswich Investment Management Co. Inc. increased its position in Alphabet by 0.8% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 56,909 shares of the information services provider’s stock worth $7,950,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOGL shares. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Wells Fargo & Company increased their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. UBS Group upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,565 shares of company stock valued at $26,823,893. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $166.16 on Tuesday. The business’s 50-day moving average price is $174.51 and its 200-day moving average price is $163.44. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for 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 period in the previous year, the firm posted $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 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.