Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Hemington Wealth Management

Hemington Wealth Management increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,033 shares of the information services provider’s stock after acquiring an additional 260 shares during the quarter. Hemington Wealth Management’s holdings in Alphabet were worth $1,098,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Collaborative Wealth Managment Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $213,000. Johnson Investment Counsel Inc. lifted its stake in Alphabet by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 1,343,499 shares of the information services provider’s stock worth $187,673,000 after purchasing an additional 30,212 shares during the last quarter. Strategic Advocates LLC boosted its holdings in Alphabet by 48.0% in the fourth quarter. Strategic Advocates LLC now owns 14,092 shares of the information services provider’s stock worth $1,969,000 after purchasing an additional 4,571 shares during the period. Invst LLC increased its stake in Alphabet by 3.2% during the fourth quarter. Invst LLC now owns 24,479 shares of the information services provider’s stock valued at $3,527,000 after purchasing an additional 753 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Alphabet by 9.0% during the fourth quarter. QRG Capital Management Inc. now owns 812,598 shares of the information services provider’s stock worth $113,512,000 after purchasing an additional 66,859 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale 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 business’s stock in a transaction on Tuesday, July 2nd. The stock was 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 approximately $5,623,355.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,367 shares of company stock worth $30,016,931. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOGL shares. Loop Capital reiterated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Guggenheim boosted their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald assumed coverage on Alphabet in a research note on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Up 1.8 %

GOOGL stock opened at $157.46 on Monday. The company has a market cap of $1.94 trillion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business has a 50-day simple moving average of $167.46 and a 200 day simple moving average of $164.87.

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

Alphabet Dividend Announcement

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

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.