denkapparat Operations GmbH Purchases Shares of 6,154 Alphabet Inc. $GOOGL

denkapparat Operations GmbH purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, HoldingsChannel reports. The institutional investor purchased 6,154 shares of the information services provider’s stock, valued at approximately $1,085,000. Alphabet accounts for approximately 0.9% of denkapparat Operations GmbH’s holdings, making the stock its 17th biggest position.

A number of other hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Alphabet in the 1st quarter valued at $50,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 225,174 shares of company stock worth $58,095,223 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. KeyCorp reissued an “overweight” rating and set a $300.00 price target (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Barclays restated an “overweight” rating and issued a $315.00 price target (up from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Wolfe Research reiterated an “outperform” rating and set a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, New Street Research raised their target price on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $307.65.

Alphabet Stock Up 6.3%

Shares of GOOGL opened at $318.58 on Tuesday. The firm has a market cap of $3.84 trillion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $319.48. The firm’s 50-day simple moving average is $263.73 and its 200 day simple moving average is $215.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.