Lansing Street Advisors Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Lansing Street Advisors grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,274 shares of the information services provider’s stock after acquiring an additional 810 shares during the period. Lansing Street Advisors’ holdings in Alphabet were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth about $36,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. Finally, Denver PWM LLC purchased a new stake in Alphabet during the second quarter valued at approximately $41,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Evercore ISI decreased their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Guggenheim raised their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Monday. Finally, Bank of America raised their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.35.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’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 transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were 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 of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock valued at $29,878,106 in the last three months. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.8 %

Shares of NASDAQ GOOGL opened at $162.73 on Friday. The stock has a market cap of $2.01 trillion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business has a 50-day moving average price of $163.41 and a 200 day moving average price of $166.14.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations 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 firm earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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 dividend payout ratio (DPR) is presently 12.27%.

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.