Haverford Financial Services Inc. Takes $7.01 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Haverford Financial Services Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,464 shares of the information services provider’s stock, valued at approximately $7,006,000. Alphabet makes up about 2.1% of Haverford Financial Services Inc.’s holdings, making the stock its 23rd largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the second 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. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at $36,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $30,000. Finally, Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter worth about $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock opened at $165.86 on Thursday. The firm has a 50 day moving average of $162.08 and a 200-day moving average of $167.01. 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 company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the firm earned $1.44 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a report on Monday, September 16th. Mizuho raised their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Evercore ISI dropped their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, UBS Group raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.14.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock worth $35,922,911 in the last ninety days. Insiders own 11.55% of the company’s stock.

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.