Resonant Capital Advisors LLC Buys 2,919 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Resonant Capital Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,466 shares of the information services provider’s stock after purchasing an additional 2,919 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Alphabet were worth $4,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Northwest Financial Advisors purchased a new position in shares of Alphabet in the fourth quarter worth about $112,000. First City Capital Management Inc. raised its position in Alphabet by 4.8% during the fourth quarter. First City Capital Management Inc. now owns 6,543 shares of the information services provider’s stock valued at $914,000 after acquiring an additional 300 shares in the last quarter. Warther Private Wealth LLC raised its position in Alphabet by 2.2% during the fourth quarter. Warther Private Wealth LLC now owns 107,081 shares of the information services provider’s stock valued at $14,958,000 after acquiring an additional 2,270 shares in the last quarter. Royal Capital Wealth Management LLC raised its position in Alphabet by 39.1% during the fourth quarter. Royal Capital Wealth Management LLC now owns 15,639 shares of the information services provider’s stock valued at $2,185,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Alphabet by 9.1% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 155,272 shares of the information services provider’s stock valued at $21,690,000 after acquiring an additional 12,895 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.8 %

Shares of GOOGL opened at $157.46 on Friday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business’s fifty day moving average is $167.46 and its 200-day moving average is $164.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business earned $1.44 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. BMO Capital Markets restated an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research report on Tuesday, August 6th. Truist Financial boosted their price objective on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Mizuho boosted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Tigress Financial lifted their price target on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,367 shares of company stock worth $30,016,931. 11.55% of the stock is owned by corporate insiders.

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.