Profund Advisors LLC Acquires 21,554 Shares of Alphabet Inc. $GOOGL

Profund Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,600 shares of the information services provider’s stock after buying an additional 21,554 shares during the quarter. Alphabet comprises 1.7% of Profund Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. Profund Advisors LLC’s holdings in Alphabet were worth $46,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Guardian Wealth Management Inc. lifted its stake 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 valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC increased 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 buying an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Roth Capital upped their price target on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wolfe Research reiterated an “outperform” rating and set a $350.00 target price (up from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Citizens Jmp upped their target price on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. DA Davidson lifted their price target on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Citic Securities boosted their price objective on shares of Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at $683,642,180.16. This trade represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 225,174 shares of company stock worth $58,095,223 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 3.5%

Alphabet stock opened at $299.66 on Friday. The stock has a 50-day moving average price of $262.39 and a 200 day moving average price of $213.40. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $306.42. The stock has a market cap of $3.62 trillion, a PE ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.