Alphabet Inc. $GOOGL Shares Purchased by Valley National Advisers Inc.

Valley National Advisers Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,670 shares of the information services provider’s stock after purchasing an additional 177 shares during the period. Valley National Advisers Inc.’s holdings in Alphabet were worth $3,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% in 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 buying an additional 506 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Alphabet by 10.5% in the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock valued at $16,062,000 after purchasing an additional 9,900 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Alphabet by 4.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,508,914 shares of the information services provider’s stock worth $387,979,000 after acquiring an additional 106,082 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in Alphabet by 8.0% during the first quarter. Foster Victor Wealth Advisors LLC now owns 133,996 shares of the information services provider’s stock worth $21,056,000 after acquiring an additional 9,876 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Loop Capital restated a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. UBS Group boosted their target price on shares of Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.26.

Alphabet Stock Up 0.5%

NASDAQ:GOOGL opened at $245.45 on Wednesday. The company has a market cap of $2.97 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50 day simple moving average is $228.31 and its 200 day simple moving average is $189.86.

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 analysts’ consensus estimates of $2.15 by $0.16. The firm 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, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared 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 was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,838 shares of company stock worth $53,070,333 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.