Flynn Zito Capital Management LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Flynn Zito Capital Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,736 shares of the information services provider’s stock after acquiring an additional 356 shares during the quarter. Flynn Zito Capital Management LLC’s holdings in Alphabet were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nebula Research & Development LLC purchased a new stake in Alphabet in the fourth quarter worth $787,000. New Hampshire Trust boosted its holdings in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares in the last quarter. Matisse Capital grew its position in shares of Alphabet by 13.7% in the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after buying an additional 2,026 shares during the period. Berkshire Money Management Inc. bought a new position in shares of Alphabet in the 1st quarter worth about $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its position in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 1.5 %

Shares of Alphabet stock opened at $162.14 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company’s fifty day simple moving average is $165.15 and its 200-day simple moving average is $165.11. 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 stock has a market capitalization of $2.00 trillion, a PE ratio of 24.87, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the business earned $1.44 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,167 shares of company stock worth $29,762,606. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. BMO Capital Markets restated an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a report on Monday. Morgan Stanley cut their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Friday, August 30th. Eight 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.08.

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.