Martin Capital Advisors LLP Purchases 260 Shares of Alphabet Inc. $GOOGL

Martin Capital Advisors LLP grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,283 shares of the information services provider’s stock after acquiring an additional 260 shares during the quarter. Alphabet comprises approximately 1.7% of Martin Capital Advisors LLP’s holdings, making the stock its 15th largest holding. Martin Capital Advisors LLP’s holdings in Alphabet were worth $2,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Alphabet during the 1st quarter valued at $4,317,606,000. GAMMA Investing LLC raised its holdings in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after buying an additional 15,968,487 shares during the period. Vanguard Group Inc. raised its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. raised its holdings in Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock valued at $1,593,201,000 after buying an additional 7,774,811 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Susquehanna increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Oppenheimer restated an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Piper Sandler increased their price target on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Finally, Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.90.

Alphabet Stock Performance

GOOGL stock opened at $245.79 on Friday. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.67 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The business’s fifty day simple moving average is $214.70 and its two-hundred day simple moving average is $182.46.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction 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 transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% 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.