Azzad Asset Management Inc. ADV Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Azzad Asset Management Inc. ADV acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 1,631 shares of the information services provider’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kennedy Capital Management LLC lifted its stake in Alphabet by 13.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after acquiring an additional 7,556 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Alphabet by 2.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,925,955 shares of the information services provider’s stock valued at $253,899,000 after acquiring an additional 51,505 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Alphabet by 1.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 24,498 shares of the information services provider’s stock valued at $3,230,000 after acquiring an additional 341 shares in the last quarter. KB Financial Partners LLC lifted its stake in Alphabet by 1.1% in the 3rd quarter. KB Financial Partners LLC now owns 12,795 shares of the information services provider’s stock valued at $1,687,000 after acquiring an additional 134 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in Alphabet by 5.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 359,760 shares of the information services provider’s stock valued at $47,434,000 after acquiring an additional 18,532 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 0.4 %

GOOG stock opened at $187.39 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.32 trillion, a PE ratio of 28.74, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.62. The business’s 50 day simple moving average is $175.47 and its 200 day simple moving average is $156.57.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

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.