New World Advisors LLC Purchases 121 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New World Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,841 shares of the information services provider’s stock after buying an additional 121 shares during the period. Alphabet comprises 0.2% of New World Advisors LLC’s portfolio, making the stock its 17th largest holding. New World Advisors LLC’s holdings in Alphabet were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter valued at approximately $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,167 shares of company stock valued at $30,139,931. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Argus upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research note on Monday. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $159.32 on Wednesday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. The firm has a fifty day simple moving average of $166.25 and a two-hundred day simple moving average of $165.17. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the company posted $1.44 EPS. On average, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is presently 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.