626 Financial LLC Purchases 249 Shares of Alphabet Inc. $GOOGL

626 Financial LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,545 shares of the information services provider’s stock after purchasing an additional 249 shares during the period. Alphabet comprises 2.6% of 626 Financial LLC’s portfolio, making the stock its 9th largest position. 626 Financial LLC’s holdings in Alphabet were worth $4,854,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GOOGL. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $16,062,000 after buying an additional 9,900 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Alphabet by 4.4% in 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 buying an additional 106,082 shares during the last quarter. Finally, Traphagen Investment Advisors LLC increased its stake in shares of Alphabet by 5.3% in the first quarter. Traphagen Investment Advisors LLC now owns 10,860 shares of the information services provider’s stock worth $1,679,000 after buying an additional 543 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on GOOGL shares. BMO Capital Markets set a $294.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley set a $270.00 price target on shares of Alphabet and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. HSBC started coverage on shares of Alphabet in a research note on Tuesday, October 7th. They issued a “buy” rating and a $285.00 price target for the company. Wedbush lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Finally, Robert W. Baird boosted their target price 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. Four equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.26.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were 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. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 244,438 shares of company stock valued at $53,216,085. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $251.03 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. 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 firm has a fifty day moving average of $229.41 and a 200-day moving average of $190.28.

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 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%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 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.