Boyar Asset Management Inc. Grows Stake in Alphabet Inc. $GOOGL

Boyar Asset Management Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,960 shares of the information services provider’s stock after buying an additional 685 shares during the quarter. Alphabet makes up about 1.1% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Boyar Asset Management Inc.’s holdings in Alphabet were worth $1,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

Alphabet stock opened at $236.57 on Friday. The firm has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00. The stock has a fifty day simple moving average of $226.31 and a two-hundred day simple moving average of $188.66. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during 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%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last ninety days. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Bank of America raised their target price on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. UBS Group raised their target price on Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus raised their target price on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wolfe Research raised their target price on Alphabet from $220.00 to $290.00 in a research note on Tuesday, September 30th. Finally, Wedbush raised their target price on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.88.

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.