Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 112.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,828 shares of the information services provider’s stock after buying an additional 31,726 shares during the period. Alphabet makes up about 3.0% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 4th biggest position. Chase Investment Counsel Corp’s holdings in Alphabet were worth $10,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $15,441,917,000. Capital Research Global Investors increased its stake in Alphabet by 14.4% in the first 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 purchasing an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. raised its holdings in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, PineStone Asset Management Inc. increased its position in shares of Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after buying an additional 4,170,229 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOGL. UBS Group increased their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Mizuho increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler cut their price target 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. Wells Fargo & Company increased their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Eight research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $159.81 on Thursday. The business has a fifty day moving average price of $165.62 and a two-hundred day moving average price of $165.13. The stock has a market capitalization of $1.97 trillion, a PE ratio of 24.51, 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 Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $1.44 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. 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.