Alphabet Inc. $GOOGL is Camelot Portfolios LLC’s 3rd Largest Position

Camelot Portfolios LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,538 shares of the information services provider’s stock after acquiring an additional 2,179 shares during the quarter. Alphabet accounts for 2.1% of Camelot Portfolios LLC’s holdings, making the stock its 3rd largest position. Camelot Portfolios LLC’s holdings in Alphabet were worth $3,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of GOOGL. Brighton Jones LLC raised its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Rhumbline Advisers grew its holdings in Alphabet by 0.8% in the first quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock valued at $1,742,444,000 after purchasing an additional 86,670 shares during the period. Matrix Trust Co grew its holdings in Alphabet by 38.7% in the first quarter. Matrix Trust Co now owns 1,322 shares of the information services provider’s stock valued at $204,000 after purchasing an additional 369 shares during the period. Finally, Vest Financial LLC grew its holdings in Alphabet by 768.3% in the first quarter. Vest Financial LLC now owns 215,559 shares of the information services provider’s stock valued at $33,334,000 after purchasing an additional 190,733 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $245.35 on Friday. The stock’s fifty day moving average is $221.25 and its two-hundred day moving average is $185.80. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. JMP Securities raised their price objective on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an “overweight” rating in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.76.

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.