2,250 Shares in Alphabet Inc. $GOOGL Bought by Washington Capital Management Inc.

Washington Capital Management Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,250 shares of the information services provider’s stock, valued at approximately $397,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Invesco Ltd. increased its holdings in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG increased its holdings in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 in the last quarter. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Melius Research boosted their price target on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an “overweight” rating in a research report on Thursday. UBS Group raised their target price on Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $240.76.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $245.35 on Friday. The business has a fifty day moving average of $221.25 and a 200-day moving average of $185.96. 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 twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market cap of $2.97 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

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.