Powers Advisory Group LLC Has $628,000 Holdings in Alphabet Inc. $GOOGL

Powers Advisory Group LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,562 shares of the information services provider’s stock after buying an additional 62 shares during the period. Powers Advisory Group LLC’s holdings in Alphabet were worth $628,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. BMO Capital Markets lifted their target price on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Citigroup raised their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. JMP Securities lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a report on Friday, September 19th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.76.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Up 2.1%

Shares of NASDAQ GOOGL opened at $250.43 on Tuesday. The company’s 50 day moving average price is $222.41 and its 200-day moving average price is $186.72. 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 52-week low of $140.53 and a 52-week high of $256.00. The company has a market capitalization of $3.03 trillion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

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

Alphabet Announces Dividend

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

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.