Dearborn Partners LLC Purchases 3,836 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Dearborn Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,871 shares of the information services provider’s stock after buying an additional 3,836 shares during the period. Dearborn Partners LLC’s holdings in Alphabet were worth $5,077,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Christopher J. Hasenberg Inc raised its position 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 worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings 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 buying an additional 109 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,065 shares of company stock valued at $22,841,690. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 0.6 %

Shares of GOOGL stock opened at $156.45 on Thursday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a market capitalization of $1.93 trillion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The firm has a 50 day moving average price of $172.04 and a two-hundred day moving average price of $164.11. 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 released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. 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 firm posted $1.44 EPS. As a group, analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Monday, July 22nd. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.17.

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.