Centaurus Financial Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Centaurus Financial Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,059 shares of the information services provider’s stock after purchasing an additional 9,582 shares during the period. Centaurus Financial Inc.’s holdings in Alphabet were worth $9,118,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% in 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. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the sale, the chief executive officer now owns 2,129,306 shares in the company, valued at $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Securities upped their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Mizuho upped their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Citigroup lifted their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, August 30th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three 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 target price of $200.95.

Alphabet Trading Up 0.7 %

Shares of NASDAQ GOOGL opened at $163.24 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $161.37 and its two-hundred day moving average price is $167.63. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 23.42, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the company posted $1.44 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 11.48%.

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.