Clark Asset Management LLC Buys 2,506 Shares of Alphabet Inc. $GOOGL

Clark Asset Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 34.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,855 shares of the information services provider’s stock after acquiring an additional 2,506 shares during the period. Clark Asset Management LLC’s holdings in Alphabet were worth $1,737,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. boosted its stake 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 buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the first 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’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 in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,396 shares of company stock valued at $54,105,275. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. Susquehanna increased their price objective on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price target (up previously from $285.00) on shares of Alphabet 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 report on Thursday, October 30th. Wedbush restated an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Performance

GOOGL stock opened at $278.83 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The business’s fifty day simple moving average is $251.23 and its two-hundred day simple moving average is $204.56. 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 (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, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Alphabet 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.