Grant Street Asset Management Inc. Boosts Stake in Alphabet Inc. $GOOGL

Grant Street Asset Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 73.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,227 shares of the information services provider’s stock after purchasing an additional 1,793 shares during the period. Grant Street Asset Management Inc.’s holdings in Alphabet were worth $745,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% during the 1st 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 in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC lifted its position 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 purchasing an additional 90 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $39,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 4.0%

Shares of NASDAQ GOOGL opened at $290.10 on Tuesday. The business has a 50-day moving average of $252.77 and a two-hundred day moving average of $205.82. The company has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. 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 data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. DA Davidson upped their price objective on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. CICC Research increased their price objective on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Stifel Nicolaus set a $333.00 target price on Alphabet in a research note on Thursday, October 30th. Finally, Susquehanna increased their price target on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $304.10.

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.