Patron Partners LLC Acquires 409 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Patron Partners LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,550 shares of the information services provider’s stock after buying an additional 409 shares during the period. Alphabet comprises about 1.1% of Patron Partners LLC’s portfolio, making the stock its 16th biggest holding. Patron Partners LLC’s holdings in Alphabet were worth $1,922,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC raised its position in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC grew its position in shares of Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Joseph P. Lucia & Associates LLC grew its position in shares of Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares during the period. Finally, Sunflower Bank N.A. increased its holdings in Alphabet by 1.0% in the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $163.59 on Friday. 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 fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.02 trillion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business has a 50 day moving average price of $164.72 and a 200-day moving average price of $165.32.

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 predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In other news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $29,762,606 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOGL. Tigress Financial increased their target price on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 24th. Argus raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, August 30th. Finally, Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight equities research 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 stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $201.08.

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.