Alphabet Inc. $GOOGL Shares Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 65.9% during the second quarter, Holdings Channel reports. The firm owned 76,168 shares of the information services provider’s stock after purchasing an additional 30,268 shares during the quarter. AlphaCore Capital LLC’s holdings in Alphabet were worth $13,423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Alphabet in the 2nd quarter worth approximately $31,000. CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new position in Alphabet during the 1st quarter worth approximately $50,000. Finally, Christopher J. Hasenberg Inc raised its stake in Alphabet by 77.6% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,628 shares of company stock worth $50,942,622 over the last three months. Corporate insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Mizuho set a $325.00 price target on Alphabet in a report on Thursday, October 30th. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Morgan Stanley upped their target price on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Melius Research raised their price target on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Finally, Barclays reaffirmed an “overweight” rating and set a $315.00 price objective (up from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.06.

Alphabet Price Performance

Shares of GOOGL opened at $319.63 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $3.86 trillion, a PE ratio of 31.52, a PEG ratio of 1.82 and a beta of 1.07. The firm’s 50 day moving average price is $273.22 and its 200 day moving average price is $222.36. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.