Shell Asset Management Co. raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 28.4% during the 2nd quarter, Holdings Channel reports. The firm owned 198,203 shares of the information services provider’s stock after acquiring an additional 43,884 shares during the quarter. Alphabet comprises about 1.2% of Shell Asset Management Co.’s holdings, making the stock its 11th biggest position. Shell Asset Management Co.’s holdings in Alphabet were worth $34,929,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its position in 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 period. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter worth about $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Stock Up 2.3%
Shares of Alphabet stock opened at $251.03 on Thursday. The business’s fifty day moving average price is $229.41 and its two-hundred day moving average price is $190.28. 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 capitalization of $3.04 trillion, a P/E ratio of 26.73, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday. Cantor Fitzgerald increased their target price on Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday. Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley set a $270.00 target price on Alphabet and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.26.
Read Our Latest Stock Analysis on Alphabet
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 244,438 shares of company stock valued at $53,216,085 in the last quarter. Company insiders own 11.64% of the company’s stock.
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.
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