Larson Financial Group LLC Buys 762 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Larson Financial Group LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,769 shares of the information services provider’s stock after acquiring an additional 762 shares during the quarter. Larson Financial Group LLC’s holdings in Alphabet were worth $3,237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter valued at $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter valued at $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter valued at $36,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Cantor Fitzgerald started coverage on Alphabet in a research note on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price for the company. Finally, Piper Sandler lowered their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,167 shares of company stock worth $30,139,931. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.8 %

NASDAQ:GOOGL opened at $159.32 on Wednesday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $1.97 trillion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business’s 50-day simple moving average is $166.25 and its 200-day simple moving average is $165.17.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business posted $1.44 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.