Stevard LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Stevard LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, HoldingsChannel reports. The firm purchased 1,832 shares of the information services provider’s stock, valued at approximately $334,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the first quarter valued at about $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter worth about $36,000. Finally, Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth about $41,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $163.95 on Monday. 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 50 day simple moving average is $162.83 and its 200 day simple moving average is $166.68. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. 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 firm posted $1.44 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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 owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. The disclosure for this sale can be found here. Insiders have sold 177,605 shares of company stock valued at $29,277,931 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.35.

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.