CBIZ Investment Advisory Services LLC Purchases 681 Shares of Alphabet Inc. $GOOGL

CBIZ Investment Advisory Services LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 28.3% during the 1st quarter, Holdings Channel reports. The firm owned 3,089 shares of the information services provider’s stock after acquiring an additional 681 shares during the period. CBIZ Investment Advisory Services LLC’s holdings in Alphabet were worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet in the first quarter valued at $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter valued at $39,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOOGL shares. Westpark Capital lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. DA Davidson lifted their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. KeyCorp lifted their price target on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $221.44.

Alphabet Stock Performance

Shares of GOOGL stock opened at $240.37 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $242.25. The stock has a market cap of $2.91 trillion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $200.66 and its 200-day moving average price is $177.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock valued at $49,208,380. Insiders own 11.64% of the company’s stock.

Alphabet Company 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.