Black Diamond Financial LLC Has $936,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Black Diamond Financial LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 29.0% during the second quarter, HoldingsChannel reports. The firm owned 5,140 shares of the information services provider’s stock after acquiring an additional 1,155 shares during the quarter. Black Diamond Financial LLC’s holdings in Alphabet were worth $936,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GOOGL. TFO Wealth Partners LLC grew its holdings in Alphabet by 5,791.1% during the 4th quarter. TFO Wealth Partners LLC now owns 91,018 shares of the information services provider’s stock worth $12,714,000 after acquiring an additional 89,473 shares during the period. New Republic Capital LLC boosted its stake in Alphabet by 29.0% during the 4th quarter. New Republic Capital LLC now owns 7,576 shares of the information services provider’s stock valued at $1,058,000 after purchasing an additional 1,704 shares during the last quarter. Private Wealth Strategies L.L.C. boosted its stake in Alphabet by 3.8% during the 4th quarter. Private Wealth Strategies L.L.C. now owns 2,764 shares of the information services provider’s stock valued at $386,000 after purchasing an additional 100 shares during the last quarter. First Pacific Advisors LP boosted its stake in Alphabet by 0.7% during the 4th quarter. First Pacific Advisors LP now owns 3,199,616 shares of the information services provider’s stock valued at $446,954,000 after purchasing an additional 21,698 shares during the last quarter. Finally, Catalytic Wealth RIA LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $4,986,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Mizuho upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $163.95 on Monday. 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 12-month low of $120.21 and a 12-month high of $191.75. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04. The firm’s 50 day simple moving average is $162.83 and its two-hundred day simple moving average is $166.68.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the business earned $1.44 earnings per share. Analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction dated Monday, September 23rd. The shares were 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 of the company’s stock, valued at $4,590,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the business’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 sale, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,605 shares of company stock valued at $29,277,931. Corporate 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.