Smart Money Group LLC Acquires 532 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Smart Money Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,181 shares of the information services provider’s stock after acquiring an additional 532 shares during the period. Smart Money Group LLC’s holdings in Alphabet were worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Resonant Capital Advisors LLC boosted its holdings in shares of Alphabet by 4.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 31,629 shares of the information services provider’s stock valued at $4,891,000 after buying an additional 1,403 shares in the last quarter. Capital Investment Counsel Inc boosted its holdings in shares of Alphabet by 3.4% in the 1st quarter. Capital Investment Counsel Inc now owns 27,039 shares of the information services provider’s stock valued at $4,181,000 after buying an additional 890 shares in the last quarter. Chaney Capital Management Inc. boosted its holdings in shares of Alphabet by 1.3% in the 1st quarter. Chaney Capital Management Inc. now owns 42,602 shares of the information services provider’s stock valued at $6,588,000 after buying an additional 560 shares in the last quarter. Clune & Associates LTD. boosted its holdings in shares of Alphabet by 38.7% in the 1st quarter. Clune & Associates LTD. now owns 3,234 shares of the information services provider’s stock valued at $500,000 after buying an additional 902 shares in the last quarter. Finally, Latitude Advisors LLC boosted its holdings in shares of Alphabet by 15.3% in the 1st quarter. Latitude Advisors LLC now owns 5,652 shares of the information services provider’s stock valued at $874,000 after buying an additional 752 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $203.90 on Friday. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The business’s 50-day simple moving average is $184.25 and its 200-day simple moving average is $173.20.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOGL shares. Citigroup increased their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Westpark Capital raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research report on Friday, June 27th. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.53.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,819 shares of company stock worth $49,796,547. Corporate insiders own 11.64% of the company’s stock.

Alphabet 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.