Tobam Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tobam raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 64.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,833 shares of the information services provider’s stock after acquiring an additional 9,718 shares during the period. Tobam’s holdings in Alphabet were worth $4,523,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GOOGL. Nebula Research & Development LLC bought a new stake in Alphabet in the 4th quarter worth $787,000. New Hampshire Trust boosted its stake in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Matisse Capital boosted its stake in shares of Alphabet by 13.7% during the 4th quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after purchasing an additional 2,026 shares in the last quarter. Berkshire Money Management Inc. bought a new position in Alphabet in the first quarter worth about $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its holdings 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 buying an additional 2,351 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders sold a total of 179,367 shares of company stock valued at $30,016,931 in the last three months. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOGL. Bank of America upped their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Tigress Financial boosted their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Guggenheim increased their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Eight investment 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. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Performance

NASDAQ GOOGL opened at $157.46 on Friday. The company has a market cap of $1.94 trillion, a P/E ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04. The business’s 50 day moving average price is $167.46 and its 200-day moving average price is $164.67. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company posted $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s payout ratio is 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.