ABLE Financial Group LLC Has $1.50 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

ABLE Financial Group LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,684 shares of the information services provider’s stock after purchasing an additional 121 shares during the period. ABLE Financial Group LLC’s holdings in Alphabet were worth $1,497,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Heritage Investment Group Inc. raised its stake in shares of Alphabet by 14.7% during the first quarter. Heritage Investment Group Inc. now owns 3,128 shares of the information services provider’s stock valued at $484,000 after acquiring an additional 400 shares during the last quarter. Alta Advisers Ltd grew its holdings in Alphabet by 52.1% in the first quarter. Alta Advisers Ltd now owns 29,479 shares of the information services provider’s stock worth $4,559,000 after purchasing an additional 10,100 shares during the period. Hixon Zuercher LLC grew its holdings in shares of Alphabet by 1.3% during the first quarter. Hixon Zuercher LLC now owns 28,583 shares of the information services provider’s stock valued at $4,420,000 after buying an additional 371 shares during the last quarter. Sage Advisors LLC boosted its holdings in Alphabet by 13.4% during the first quarter. Sage Advisors LLC now owns 1,868 shares of the information services provider’s stock worth $289,000 after purchasing an additional 221 shares during the last quarter. Finally, Unified Investment Management boosted its holdings in Alphabet by 4.2% during the first quarter. Unified Investment Management now owns 5,481 shares of the information services provider’s stock worth $848,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock worth $36,330,928. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $179.08 on Monday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company’s 50-day moving average is $168.70 and its 200 day moving average is $173.77. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. BMO Capital Markets reissued an “outperform” rating and issued a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Citigroup reissued a “buy” rating and issued a $203.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Finally, Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

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.