Talbot Financial LLC Has $40.65 Million Stock Position in Alphabet Inc. $GOOGL

Talbot Financial LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 229,273 shares of the information services provider’s stock after buying an additional 37,585 shares during the period. Alphabet accounts for approximately 3.8% of Talbot Financial LLC’s holdings, making the stock its 5th biggest position. Talbot Financial LLC’s holdings in Alphabet were worth $40,654,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Missouri Trust & Investment Co lifted its stake in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its stake in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC lifted its stake in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC lifted its stake in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth lifted its stake in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,338 shares of company stock worth $59,062,683. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. KeyCorp increased their target price on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Citigroup upped their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Cantor Fitzgerald restated a “neutral” rating and issued a $201.00 price target on shares of Alphabet in a research report on Wednesday, September 24th. UBS Group upped their price target on shares of Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Truist Financial upped their price target on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $245.88.

Alphabet Stock Down 2.1%

GOOGL stock opened at $236.57 on Monday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. 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 company has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00. The company has a 50 day moving average of $226.31 and a two-hundred day moving average of $188.84.

Alphabet (NASDAQ:GOOGL) last released its 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

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.