L & S Advisors Inc Has $19.32 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

L & S Advisors Inc boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 77.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,052 shares of the information services provider’s stock after purchasing an additional 46,223 shares during the period. Alphabet comprises 2.2% of L & S Advisors Inc’s holdings, making the stock its 7th largest position. L & S Advisors Inc’s holdings in Alphabet were worth $19,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Warwick Investment Management Inc. bought a new position in Alphabet during the fourth quarter worth $367,000. Vectors Research Management LLC acquired a new position in Alphabet in the fourth quarter valued at about $224,000. Clear Rock Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter worth approximately $289,000. ORBA Wealth Advisors L.L.C. acquired a new stake in shares of Alphabet in the 4th quarter valued at $1,172,000. Finally, Sprinkle Financial Consultants LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $696,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,725 shares of company stock worth $31,933,031. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Jefferies Financial Group increased their target price on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 price target on shares of Alphabet in a research report on Monday, September 16th. Citigroup increased their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Guggenheim lifted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.35.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $166.99 on Wednesday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. 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 company’s 50-day moving average is $162.22 and its 200 day moving average is $167.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $1.44 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. 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.