Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Magnus Financial Group LLC

Magnus Financial Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,756 shares of the information services provider’s stock after purchasing an additional 2,514 shares during the period. Magnus Financial Group LLC’s holdings in Alphabet were worth $5,784,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its stake in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $15,441,917,000. Capital Research Global Investors lifted its position in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. Finally, Fisher Asset Management LLC grew its position in Alphabet by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $158.06 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $1.95 trillion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm has a fifty day moving average price of $166.84 and a two-hundred day moving average price of $165.01. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOOGL shares. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Monday. Bank of America raised their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a report on Monday. Roth Mkm restated a “buy” rating and set a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Finally, Evercore ISI lowered their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,167 shares of company stock worth $30,139,931. Company insiders own 11.55% of the company’s stock.

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.