Hudson Valley Investment Advisors Inc. ADV Has $1.19 Million Stake in Alphabet Inc. $GOOGL

Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,730 shares of the information services provider’s stock after purchasing an additional 77 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Alphabet were worth $1,186,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Alphabet by 1.9% in 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 buying an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $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 related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director 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. Over the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho set a $295.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Monday, September 29th. JMP Securities lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a report on Friday, September 19th. Citizens Jmp lifted their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an “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 report on Thursday, June 26th. Finally, Moffett Nathanson lifted their price target on shares of Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.88.

Alphabet Trading Down 2.1%

Alphabet stock opened at $236.57 on Friday. The stock has a market cap of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The firm’s fifty day moving average price is $226.31 and its 200-day moving average price is $188.66. 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 (NASDAQ:GOOGL) last released its quarterly earnings results 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is 8.95%.

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.