Range Financial Group LLC Purchases 67 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Range Financial Group LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,068 shares of the information services provider’s stock after buying an additional 67 shares during the quarter. Range Financial Group LLC’s holdings in Alphabet were worth $559,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Nebula Research & Development LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $787,000. New Hampshire Trust raised its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Matisse Capital raised its stake in Alphabet by 13.7% in the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after purchasing an additional 2,026 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in Alphabet in the first quarter valued at about $359,000. Finally, Schneider Downs Wealth Management Advisors LP raised its stake in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,167 shares of company stock valued at $30,139,931. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $159.32 on Wednesday. The business’s 50 day simple moving average is $166.25 and its 200 day simple moving average is $165.17. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The stock has a market capitalization of $1.97 trillion, a PE ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Securities boosted their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald began coverage on Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet 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.