Oldfather Financial Services LLC Acquires 300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Oldfather Financial Services LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,635 shares of the information services provider’s stock after acquiring an additional 300 shares during the period. Oldfather Financial Services LLC’s holdings in Alphabet were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOGL. MorganRosel Wealth Management LLC increased its stake in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC boosted its position in Alphabet by 0.8% during 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 buying an additional 60 shares during the period. Joseph P. Lucia & Associates LLC increased its position in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares during the period. Sunflower Bank N.A. raised its stake in shares of Alphabet by 1.0% during the second 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 during the last quarter. Finally, M. Kraus & Co boosted its holdings in shares of Alphabet by 1.1% during the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock worth $26,823,893 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.0 %

Alphabet stock opened at $163.38 on Friday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The business’s fifty day moving average is $173.44 and its 200 day moving average is $163.65. The stock has a market capitalization of $2.02 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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 the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the firm posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Argus boosted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Piper Sandler raised their price target on Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. 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. Royal Bank of Canada raised their target price 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. Finally, Truist Financial lifted their target price on shares of Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Six 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Alphabet 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.