Zhang Financial LLC Acquires 567 Shares of Alphabet Inc. $GOOGL

Zhang Financial LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,177 shares of the information services provider’s stock after acquiring an additional 567 shares during the quarter. Zhang Financial LLC’s holdings in Alphabet were worth $9,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York Life Investment Management LLC increased its position in Alphabet by 0.7% during the 2nd quarter. New York Life Investment Management LLC now owns 850,979 shares of the information services provider’s stock valued at $149,968,000 after purchasing an additional 6,168 shares during the period. Pavion Blue Capital LLC lifted its position in shares of Alphabet by 1.2% in the 2nd quarter. Pavion Blue Capital LLC now owns 11,093 shares of the information services provider’s stock worth $1,955,000 after purchasing an additional 135 shares during the period. Integral Investment Advisors Inc. boosted its stake in shares of Alphabet by 4.5% during the 2nd quarter. Integral Investment Advisors Inc. now owns 26,670 shares of the information services provider’s stock valued at $4,700,000 after purchasing an additional 1,141 shares in the last quarter. Purkiss Capital Advisors LLC increased its position in shares of Alphabet by 46.7% during the second quarter. Purkiss Capital Advisors LLC now owns 19,030 shares of the information services provider’s stock valued at $3,354,000 after buying an additional 6,062 shares during the period. Finally, William Allan Corp increased its position in shares of Alphabet by 4.6% during the second quarter. William Allan Corp now owns 39,650 shares of the information services provider’s stock valued at $6,987,000 after buying an additional 1,734 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

Shares of NASDAQ:GOOGL opened at $278.83 on Friday. 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 stock has a fifty day simple moving average of $251.23 and a two-hundred day simple moving average of $204.56. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The stock has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 222,396 shares of company stock worth $54,105,275. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Canaccord Genuity Group raised their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday, October 30th. Bank of America lifted their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Guggenheim upped their price target on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

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.