Bowman & Co S.C. Increases Stock Holdings in Alphabet Inc. $GOOGL

Bowman & Co S.C. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,566 shares of the information services provider’s stock after buying an additional 542 shares during the period. Alphabet comprises about 1.1% of Bowman & Co S.C.’s holdings, making the stock its 21st largest position. Bowman & Co S.C.’s holdings in Alphabet were worth $2,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Guardian Wealth Management Inc. lifted 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 acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the first quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value 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 $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,588 shares of company stock valued at $44,296,554 over the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $251.16 on Wednesday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $253.04. The business has a 50-day simple moving average of $204.93 and a 200 day simple moving average of $178.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.69 and a beta of 1.01.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Westpark Capital lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Cantor Fitzgerald boosted their target price on Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.85.

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.