Alpha DNA Investment Management LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Alpha DNA Investment Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 144.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,823 shares of the information services provider’s stock after purchasing an additional 5,807 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Alphabet were worth $1,789,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the second 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 in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $162.98 on Tuesday. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.21 and a beta of 1.04. The stock has a 50 day moving average of $162.06 and a 200-day moving average of $167.41. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm earned $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research assumed coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday. Wells Fargo & Company reduced their target price on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,592 shares of company stock valued at $35,922,911. Insiders own 11.55% of the company’s stock.

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.