Custom Index Systems LLC Acquires 364 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Custom Index Systems LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,784 shares of the information services provider’s stock after acquiring an additional 364 shares during the quarter. Alphabet comprises about 1.2% of Custom Index Systems LLC’s investment portfolio, making the stock its 18th largest holding. Custom Index Systems LLC’s holdings in Alphabet were worth $2,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NINE MASTS CAPITAL Ltd acquired a new stake in Alphabet during the fourth quarter worth about $5,297,000. Summit X LLC lifted its holdings in shares of Alphabet by 63.0% during the 4th quarter. Summit X LLC now owns 25,400 shares of the information services provider’s stock worth $3,548,000 after acquiring an additional 9,820 shares during the period. Independent Advisor Alliance boosted its position in shares of Alphabet by 1.8% during the 4th quarter. Independent Advisor Alliance now owns 258,299 shares of the information services provider’s stock worth $36,082,000 after acquiring an additional 4,634 shares in the last quarter. Brown Advisory Inc. increased its stake in Alphabet by 3.4% in the fourth quarter. Brown Advisory Inc. now owns 8,568,734 shares of the information services provider’s stock valued at $1,196,966,000 after acquiring an additional 278,134 shares during the last quarter. Finally, Gainplan LLC raised its position in Alphabet by 24.6% during the fourth quarter. Gainplan LLC now owns 2,951 shares of the information services provider’s stock valued at $412,000 after purchasing an additional 583 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $29,762,606 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.9 %

NASDAQ GOOGL opened at $163.59 on Friday. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The business has a 50 day simple moving average of $164.72 and a 200 day simple moving average of $165.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

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

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. TD Securities raised their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Truist Financial reiterated a “buy” rating and set a $196.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.08.

About Alphabet

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.