O Neil Global Advisors Inc. Purchases Shares of 60,100 Alphabet Inc. (NASDAQ:GOOGL)

O Neil Global Advisors Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, HoldingsChannel reports. The fund acquired 60,100 shares of the information services provider’s stock, valued at approximately $10,947,000. Alphabet makes up 5.1% of O Neil Global Advisors Inc.’s holdings, making the stock its 4th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $30,000. Finally, Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Citigroup lifted their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $201.35.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,867 shares of company stock worth $29,878,106. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $163.95 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business has a 50-day simple moving average of $163.11 and a two-hundred day simple moving average of $166.11. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. Research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

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.