Sigma Investment Counselors Inc. Buys 218 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sigma Investment Counselors Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 37,910 shares of the information services provider’s stock after acquiring an additional 218 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Alphabet were worth $6,905,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Tempus Wealth Planning LLC raised its holdings in shares of Alphabet by 4.6% during the 2nd quarter. Tempus Wealth Planning LLC now owns 12,298 shares of the information services provider’s stock worth $2,240,000 after buying an additional 544 shares in the last quarter. AMI Investment Management Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth $213,000. POM Investment Strategies LLC raised its holdings in shares of Alphabet by 263.6% during the 2nd quarter. POM Investment Strategies LLC now owns 800 shares of the information services provider’s stock worth $146,000 after buying an additional 580 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Alphabet by 1.2% during the 2nd quarter. Calamos Wealth Management LLC now owns 353,751 shares of the information services provider’s stock worth $64,436,000 after buying an additional 4,096 shares in the last quarter. Finally, Keb Asset Management LLC raised its holdings in shares of Alphabet by 38.4% during the 2nd quarter. Keb Asset Management LLC now owns 2,932 shares of the information services provider’s stock worth $534,000 after buying an additional 813 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler increased their target price on Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Tuesday, July 30th. Loop Capital reiterated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Trading Up 1.0 %

Shares of Alphabet stock opened at $163.38 on Tuesday. 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 Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The stock has a 50 day moving average price of $173.13 and a two-hundred day moving average price of $164.05. The stock has a market capitalization of $2.01 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 155,883 shares of company stock valued at $26,705,320 over the last 90 days. 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.