Lake Street Advisors Group LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Lake Street Advisors Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,815 shares of the information services provider’s stock after acquiring an additional 2,546 shares during the period. Lake Street Advisors Group LLC’s holdings in Alphabet were worth $12,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc raised its position 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 worth $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter worth about $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $36,000. Finally, Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter worth about $41,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a report on Monday, September 16th. Eight research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Up 0.9 %

NASDAQ:GOOGL opened at $163.59 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s 50-day moving average price is $164.72 and its 200-day moving average price is $165.32. 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 announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm earned $1.44 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced 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 was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock worth $29,762,606 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

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.