Tactive Advisors LLC Acquires New Position in Alphabet Inc. $GOOGL

Tactive Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, Holdings Channel reports. The firm bought 6,602 shares of the information services provider’s stock, valued at approximately $1,164,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Financial Gravity Companies Inc. acquired a new position in Alphabet during the second quarter worth $31,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after buying an additional 89 shares during the last quarter. S&T Bank PA boosted its position in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after buying an additional 99 shares in the last quarter. Finally, Christopher J. Hasenberg Inc grew its stake in Alphabet by 77.6% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 152 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the sale, the director directly owned 18,104 shares of the company’s stock, valued at $5,750,916.64. The trade was a 0.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the sale, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at approximately $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,128 shares of company stock valued at $61,326,372 in the last ninety days. 11.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. Guggenheim restated a “buy” rating and set a $375.00 target price (up previously from $330.00) on shares of Alphabet in a research report on Monday, December 1st. BNP Paribas Exane began coverage on Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective for the company. HSBC upped their target price on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, President Capital increased their price objective on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.22.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $309.29 on Friday. The company has a market cap of $3.73 trillion, a P/E ratio of 30.50, a P/E/G ratio of 1.79 and a beta of 1.07. The business has a fifty day simple moving average of $283.14 and a 200-day simple moving average of $229.57. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

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.