Foster & Motley Inc. Acquires 366 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Foster & Motley Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,187 shares of the information services provider’s stock after buying an additional 366 shares during the period. Foster & Motley Inc.’s holdings in Alphabet were worth $1,673,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the 2nd 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 stake in Alphabet during the second quarter worth approximately $36,000. Tributary Capital Management LLC bought a new position in Alphabet during the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. lifted 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 acquiring an additional 109 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock worth $29,762,606 in the last quarter. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Cantor Fitzgerald started coverage on Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price target on the stock. Bank of America boosted their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Eight research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

Shares of GOOGL opened at $159.81 on Thursday. The firm’s fifty day simple moving average is $165.62 and its two-hundred day simple moving average is $165.13. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its 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 last year, the firm posted $1.44 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

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.