D.B. Root & Company LLC Has $2.20 Million Holdings in Alphabet Inc. $GOOGL

D.B. Root & Company LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,460 shares of the information services provider’s stock after selling 1,221 shares during the period. D.B. Root & Company LLC’s holdings in Alphabet were worth $2,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Inc. OK lifted its holdings in Alphabet by 8.3% in the second quarter. Capital Advisors Inc. OK now owns 30,054 shares of the information services provider’s stock valued at $5,296,000 after buying an additional 2,315 shares during the period. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in Alphabet by 3.0% in the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 14,899 shares of the information services provider’s stock valued at $2,626,000 after buying an additional 427 shares during the period. Iowa State Bank lifted its holdings in Alphabet by 0.8% in the second quarter. Iowa State Bank now owns 47,331 shares of the information services provider’s stock valued at $8,341,000 after buying an additional 360 shares during the period. Relyea Zuckerberg Hanson LLC lifted its holdings in Alphabet by 3.5% in the second quarter. Relyea Zuckerberg Hanson LLC now owns 28,868 shares of the information services provider’s stock valued at $5,087,000 after buying an additional 976 shares during the period. Finally, HRC Wealth Management LLC acquired a new position in Alphabet in the second quarter valued at $211,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GOOGL shares. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Guggenheim lifted their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.26.

Alphabet Trading Up 0.5%

Shares of GOOGL stock opened at $245.45 on Wednesday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50-day simple moving average of $228.31 and a two-hundred day simple moving average of $189.86. The company has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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 business had revenue of $96.43 billion during 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%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’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 transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,838 shares of company stock valued at $53,070,333 in the last three months. Insiders own 11.55% of the company’s stock.

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.