Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Choreo LLC

Choreo LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 128.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,144 shares of the information services provider’s stock after buying an additional 147,747 shares during the quarter. Alphabet comprises 0.8% of Choreo LLC’s portfolio, making the stock its 29th largest position. Choreo LLC’s holdings in Alphabet were worth $48,138,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOGL. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $787,000. New Hampshire Trust boosted its stake in Alphabet by 2.7% during the second 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. Berkshire Money Management Inc. acquired a new position in Alphabet during the first quarter worth about $359,000. Schneider Downs Wealth Management Advisors LP raised its position in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its holdings in Alphabet by 14.5% in the 4th quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock valued at $3,046,000 after acquiring an additional 2,763 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $161.85 on Tuesday. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50-day moving average of $164.23 and a two-hundred day moving average of $165.98. Alphabet Inc. has a 52-week low of $120.21 and a 52-week 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 issued its quarterly 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 company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business posted $1.44 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, 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 at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock valued at $29,762,606 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley cut 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. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Eight equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.