Hantz Financial Services Inc. Makes New $31.70 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Hantz Financial Services Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, HoldingsChannel reports. The institutional investor purchased 174,052 shares of the information services provider’s stock, valued at approximately $31,704,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management raised its position in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $787,000. New Hampshire Trust raised its holdings in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares in the last quarter. Matisse Capital lifted its position in Alphabet by 13.7% in the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after buying an additional 2,026 shares during the last quarter. Finally, Berkshire Money Management Inc. purchased a new stake in Alphabet in the first quarter worth approximately $359,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. BMO Capital Markets restated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a research report on Tuesday, August 6th. Tigress Financial lifted their price objective on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Piper Sandler raised their price target on Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.81.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction 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 $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 178,032 shares of company stock worth $29,854,224 in the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.5 %

Alphabet stock opened at $148.71 on Tuesday. 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 business’s fifty day simple moving average is $170.17 and its two-hundred day simple moving average is $164.48. The company has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

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 the consensus estimate of $1.85 by $0.04. The company 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 period in the prior year, the firm posted $1.44 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. Alphabet’s 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.