Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Journey Advisory Group LLC

Journey Advisory Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 156.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,966 shares of the information services provider’s stock after buying an additional 29,903 shares during the period. Alphabet accounts for about 1.1% of Journey Advisory Group LLC’s holdings, making the stock its 26th biggest holding. Journey Advisory Group LLC’s holdings in Alphabet were worth $8,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley reduced their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets restated an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a report on Monday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Guggenheim boosted their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald assumed coverage on shares of Alphabet in a research report on Thursday, September 5th. They set a “neutral” rating and a $190.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Up 0.3 %

Shares of NASDAQ GOOGL opened at $159.81 on Thursday. The business has a 50-day moving average of $165.62 and a two-hundred day moving average of $165.13. The company has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. 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 posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the business earned $1.44 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business 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 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,167 shares of company stock worth $29,762,606. Corporate insiders own 11.55% of the company’s stock.

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.