Frontier Asset Management LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Frontier Asset Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,238 shares of the information services provider’s stock, valued at approximately $226,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted 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 buying an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $36,000. Finally, Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $41,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 16th. Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a report on Monday. Eight research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.08.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 700 shares of the firm’s 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 transaction, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet 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 sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now owns 27,824 shares in the company, valued at $4,590,960. The disclosure for this sale can be found here. Insiders have sold a total of 180,867 shares of company stock worth $29,878,106 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $162.29 on Wednesday. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock’s 50-day moving average is $163.80 and its 200 day moving average is $166.17.

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, 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 for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company earned $1.44 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

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.