Alphabet Inc. $GOOGL Stock Position Raised by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,363 shares of the information services provider’s stock after acquiring an additional 488 shares during the quarter. Alphabet makes up about 1.7% of Foresight Capital Management Advisors Inc.’s holdings, making the stock its 27th biggest holding. Foresight Capital Management Advisors Inc.’s holdings in Alphabet were worth $2,884,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research report on Friday, September 19th. Truist Financial increased their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Piper Sandler increased their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Melius Research increased their target price on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Finally, KeyCorp increased their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $249.26.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 244,438 shares of company stock worth $53,216,085. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $251.03 on Thursday. 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 has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.66 and a beta of 1.00. The company’s fifty day moving average is $229.41 and its two-hundred day moving average is $190.28. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 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.