Delta Financial Group Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Delta Financial Group Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,894 shares of the information services provider’s stock after buying an additional 184 shares during the period. Alphabet comprises about 1.1% of Delta Financial Group Inc.’s holdings, making the stock its 18th largest position. Delta Financial Group Inc.’s holdings in Alphabet were worth $2,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Alphabet by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares during the period. Finally, Capital World Investors grew its holdings in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after purchasing an additional 597,756 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a report on Monday, September 30th. Truist Financial reissued a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.95.

Alphabet Stock Up 0.7 %

Shares of Alphabet stock opened at $163.24 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company’s 50 day moving average price is $161.37 and its 200-day moving average price is $167.86. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the firm earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 (DPR) is currently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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 directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is currently owned by insiders.

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.