Americana Partners LLC Buys 6,098 Shares of Alphabet Inc. $GOOGL

Americana Partners LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,324 shares of the information services provider’s stock after buying an additional 6,098 shares during the period. Alphabet comprises 1.1% of Americana Partners LLC’s portfolio, making the stock its 25th biggest holding. Americana Partners LLC’s holdings in Alphabet were worth $31,250,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Hughes Financial Services LLC raised its holdings in Alphabet by 39.9% in the 2nd quarter. Hughes Financial Services LLC now owns 1,315 shares of the information services provider’s stock valued at $232,000 after acquiring an additional 375 shares in the last quarter. Altman Advisors Inc. increased its position in shares of Alphabet by 1.7% during the second quarter. Altman Advisors Inc. now owns 35,840 shares of the information services provider’s stock valued at $6,302,000 after purchasing an additional 586 shares during the period. Fountainhead AM LLC increased its position in shares of Alphabet by 18.4% during the second quarter. Fountainhead AM LLC now owns 16,655 shares of the information services provider’s stock valued at $2,935,000 after purchasing an additional 2,589 shares during the period. Compass Capital Management Inc. raised its stake in shares of Alphabet by 1.0% in the second quarter. Compass Capital Management Inc. now owns 356,289 shares of the information services provider’s stock valued at $62,789,000 after purchasing an additional 3,664 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in Alphabet by 1.7% in the second quarter. Fidelis Capital Partners LLC now owns 100,521 shares of the information services provider’s stock worth $17,715,000 after purchasing an additional 1,634 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 3.5%

Shares of GOOGL opened at $299.66 on Friday. The company has a market capitalization of $3.62 trillion, a P/E ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a one year low of $140.53 and a one year high of $306.42. The business’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.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 225,174 shares of company stock worth $58,095,223 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. Wells Fargo & Company boosted their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Daiwa Capital Markets increased their price target on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.