Berger Financial Group Inc Has $11.61 Million Stock Position in Alphabet Inc. $GOOGL

Berger Financial Group Inc raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,863 shares of the information services provider’s stock after purchasing an additional 1,321 shares during the period. Berger Financial Group Inc’s holdings in Alphabet were worth $11,607,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% during the first 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 during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Tigress Financial boosted their target price on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Finally, HSBC initiated coverage on shares of Alphabet in a research note on Tuesday, October 7th. They set a “buy” rating and a $285.00 target price on the stock. Four investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.88.

Alphabet Stock Performance

Shares of Alphabet stock opened at $236.57 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. The company’s fifty day moving average is $226.31 and its 200 day moving average is $188.84.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business 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%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced 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 was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock worth $59,062,683 over the last quarter. Company insiders own 11.64% of the company’s stock.

About Alphabet

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.