S&A Financial Services Inc. Buys Shares of 2,029 Alphabet Inc. $GOOGL

S&A Financial Services Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,029 shares of the information services provider’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. E Wealth Partners LLC raised its holdings in Alphabet by 6.4% in the first quarter. E Wealth Partners LLC now owns 1,916 shares of the information services provider’s stock valued at $551,000 after acquiring an additional 116 shares in the last quarter. LFG Wealth Partners LLC increased its position in shares of Alphabet by 2.8% in the 1st quarter. LFG Wealth Partners LLC now owns 27,721 shares of the information services provider’s stock worth $7,972,000 after purchasing an additional 768 shares during the last quarter. Brandywine Financial Group acquired a new stake in shares of Alphabet in the 1st quarter valued at about $9,855,000. Curry Webb Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $447,000. Finally, Robinswood Financial LLC bought a new position in shares of Alphabet during the first quarter worth about $290,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 82 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $333.39, for a total transaction of $27,337.98. Following the completion of the transaction, the director owned 18,914 shares of the company’s stock, valued at approximately $6,305,738.46. This trade represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 600,547 shares of company stock valued at $16,255,540. 11.61% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $354.30 on Monday. The firm has a market capitalization of $4.33 trillion, a P/E ratio of 17.80, a P/E/G ratio of 0.99 and a beta of 1.24. The business has a 50 day simple moving average of $355.68 and a 200 day simple moving average of $340.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Equities research analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOGL. Citizens Jmp reissued a “market outperform” rating and issued a $515.00 price objective on shares of Alphabet in a report on Wednesday, July 22nd. Barclays reiterated an “overweight” rating and issued a $425.00 target price (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. President Capital upped their price target on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Arete Research raised their price objective on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $419.86.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.