Asset Dedication LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Asset Dedication LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,148 shares of the information services provider’s stock after purchasing an additional 1,479 shares during the quarter. Asset Dedication LLC’s holdings in Alphabet were worth $6,038,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in Alphabet in the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $41,000. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, UBS Group lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Eight 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Performance

Alphabet stock opened at $163.59 on Friday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock’s 50 day simple moving average is $164.72 and its two-hundred day simple moving average is $165.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $1.44 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s 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 sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, 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 180,167 shares of company stock worth $29,762,606 in the last three months. 11.55% of the stock is owned by corporate insiders.

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.