Alphabet Inc. $GOOGL Shares Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 100.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,875 shares of the information services provider’s stock after purchasing an additional 29,525 shares during the quarter. Alphabet makes up about 1.0% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 29th biggest position. Zweig DiMenna Associates LLC’s holdings in Alphabet were worth $10,376,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted 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 worth $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $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. grew its stake 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 valued at $44,000 after buying an additional 67 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $278.57 on Friday. The company has a fifty day moving average price of $256.42 and a two-hundred day moving average price of $207.79. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $292.01. The company has a market cap of $3.36 trillion, a PE ratio of 27.47, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its 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. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Oppenheimer boosted their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. New Street Research raised their price objective on Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Loop Capital boosted their target price on Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Wells Fargo & Company raised 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. Finally, Rosenblatt Securities lifted their price target on shares of Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.