Alphabet Inc. $GOOGL Shares Bought by Altman Advisors Inc.

Altman Advisors Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,840 shares of the information services provider’s stock after purchasing an additional 586 shares during the quarter. Alphabet makes up approximately 2.4% of Altman Advisors Inc.’s portfolio, making the stock its 8th largest holding. Altman Advisors Inc.’s holdings in Alphabet were worth $6,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first 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. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $50,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $299.66 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $306.42. The firm’s 50 day simple moving average is $262.39 and its 200-day simple moving average is $213.40. 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 company has a market cap of $3.62 trillion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was 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 of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,174 shares of company stock worth $58,095,223 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOGL shares. Oppenheimer boosted their price objective on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Barclays reiterated an “overweight” rating and set a $315.00 target price (up from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Morgan Stanley lifted their price target on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Susquehanna increased their target price on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

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.