Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,857 shares of the information services provider’s stock after acquiring an additional 136 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Alphabet were worth $1,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC boosted its position in Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Roth Mkm boosted their price target on Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Jefferies Financial Group upped their price objective on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Stock Up 2.3 %

NASDAQ:GOOGL opened at $166.67 on Tuesday. The stock has a 50-day simple moving average of $175.61 and a 200 day simple moving average of $162.69. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The disclosure for this sale can be found here. Insiders sold a total of 134,065 shares of company stock worth $23,051,543 over the last ninety days. Company insiders own 11.55% of the company’s stock.

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.