Fiduciary Financial Group LLC Buys 608 Shares of Alphabet Inc. $GOOGL

Fiduciary Financial Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,171 shares of the information services provider’s stock after buying an additional 608 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Alphabet were worth $1,261,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Alphabet during the 1st quarter worth $4,317,606,000. GAMMA Investing LLC boosted its position in Alphabet by 16,993.2% in the first 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% in the first 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. increased its position in shares of Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after acquiring an additional 7,774,811 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Alphabet during the fourth quarter worth about $1,375,509,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $240.80 on Friday. The firm has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The firm has a 50-day simple moving average of $201.89 and a two-hundred day simple moving average of $177.48. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Needham & Company LLC upped their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Susquehanna increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Roth Capital raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Loop Capital reiterated a “hold” rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $221.44.

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.