Susquehanna Fundamental Investments LLC Invests $5.67 Million in Alphabet Inc. (NASDAQ:GOOGL)

Susquehanna Fundamental Investments LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,100 shares of the information services provider’s stock, valued at approximately $5,665,000.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its stake 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 valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at about $30,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,592 shares of company stock worth $35,922,911. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Morgan Stanley cut their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Truist Financial restated a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Monday, September 16th. Finally, UBS Group increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.14.

Alphabet Stock Performance

Alphabet stock opened at $164.38 on Wednesday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year 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 firm has a market capitalization of $2.03 trillion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s 50 day simple moving average is $161.93 and its 200 day simple moving average is $167.52.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.