Alphabet Inc. $GOOGL Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.7% during the second quarter, Holdings Channel reports. The fund owned 260,422 shares of the information services provider’s stock after buying an additional 35,280 shares during the quarter. Alphabet makes up 0.8% of Advisory Services Network LLC’s holdings, making the stock its 13th largest holding. Advisory Services Network LLC’s holdings in Alphabet were worth $49,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC boosted its position in Alphabet by 9.4% during the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares in the last quarter. United Bank grew its holdings in Alphabet by 2.1% in the first quarter. United Bank now owns 45,084 shares of the information services provider’s stock valued at $6,972,000 after purchasing an additional 910 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in shares of Alphabet by 16.4% during the 1st quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock worth $4,193,000 after buying an additional 3,822 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $309.29 on Monday. The business’s 50 day moving average price is $283.14 and its 200 day moving average price is $229.97. The company has a market cap of $3.73 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. Needham & Company LLC lifted their price target on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Cantor Fitzgerald upped their price target on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Loop Capital upgraded Alphabet from a “hold” rating to a “buy” rating and raised their target price for the company from $260.00 to $320.00 in a research report on Tuesday, November 18th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.22.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on 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 transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 222,750 shares of company stock worth $60,496,098. Company insiders own 11.55% of the company’s stock.

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.