HBW Advisory Services LLC Boosts Holdings in Alphabet Inc. $GOOGL

HBW Advisory Services LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,683 shares of the information services provider’s stock after buying an additional 325 shares during the period. HBW Advisory Services LLC’s holdings in Alphabet were worth $5,055,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GOOGL shares. BNP Paribas Exane restated a “neutral” rating and set a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Citigroup restated an “outperform” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Roth Capital raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Barclays raised their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Truist Financial restated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Alphabet Trading Up 0.2%

Shares of Alphabet stock opened at $240.80 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The firm has a market cap of $2.91 trillion, a PE ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50 day simple moving average of $201.89 and a two-hundred day simple moving average of $177.48.

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

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. The trade was a 5.87% 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 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.