Alphabet Inc. (NASDAQ:GOOGL) is Valicenti Advisory Services Inc.’s 5th Largest Position

Valicenti Advisory Services Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,773 shares of the information services provider’s stock after selling 3,442 shares during the quarter. Alphabet accounts for approximately 4.5% of Valicenti Advisory Services Inc.’s holdings, making the stock its 5th biggest position. Valicenti Advisory Services Inc.’s holdings in Alphabet were worth $16,899,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOOGL. Iowa State Bank boosted its stake in Alphabet by 3.0% during the 2nd quarter. Iowa State Bank now owns 49,700 shares of the information services provider’s stock valued at $9,053,000 after purchasing an additional 1,451 shares during the last quarter. TFC Financial Management Inc. raised its position in Alphabet by 1.6% in the 2nd quarter. TFC Financial Management Inc. now owns 7,732 shares of the information services provider’s stock worth $1,408,000 after buying an additional 124 shares during the last quarter. Bank Hapoalim BM lifted its stake in Alphabet by 6.8% during the 2nd quarter. Bank Hapoalim BM now owns 8,634 shares of the information services provider’s stock valued at $1,573,000 after acquiring an additional 548 shares during the period. Elser Financial Planning Inc bought a new stake in shares of Alphabet in the second quarter worth approximately $692,000. Finally, Fifth Third Wealth Advisors LLC lifted its position in Alphabet by 87.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 132,488 shares of the information services provider’s stock valued at $24,133,000 after purchasing an additional 61,837 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOGL. TD Securities raised their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Piper Sandler increased their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Mizuho increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Price Performance

Alphabet stock opened at $162.85 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.28 and a beta of 1.05. The firm’s fifty day moving average is $174.30 and its 200 day moving average is $163.55. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business earned $1.44 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the sale, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,565 shares of company stock worth $26,823,893. Corporate insiders own 11.55% of the company’s stock.

About Alphabet

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.