Capital Square LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Capital Square LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,262 shares of the information services provider’s stock after acquiring an additional 439 shares during the quarter. Capital Square LLC’s holdings in Alphabet were worth $593,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet in the 4th quarter valued at about $30,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.4 %

Shares of NASDAQ:GOOGL opened at $158.06 on Tuesday. The firm has a fifty day moving average price of $166.84 and a 200 day moving average price of $165.01. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock has a market cap of $1.95 trillion, a P/E ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. 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 12.27%.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Piper Sandler reduced their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Cantor Fitzgerald initiated coverage on shares of Alphabet in a research report on Thursday, September 5th. They set a “neutral” rating and a $190.00 price target for the company. Royal Bank of Canada increased their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research note on Monday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.08.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Thursday, June 20th. The stock was 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 in the company, valued at $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock worth $30,139,931 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.