Alphabet Inc. $GOOGL is McAlister Sweet & Associates Inc.’s 6th Largest Position

McAlister Sweet & Associates Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 33,315 shares of the information services provider’s stock after buying an additional 4,285 shares during the quarter. Alphabet comprises 6.0% of McAlister Sweet & Associates Inc.’s holdings, making the stock its 6th largest holding. McAlister Sweet & Associates Inc.’s holdings in Alphabet were worth $5,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during 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 last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL opened at $240.80 on Friday. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $242.25. The company has a market cap of $2.91 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a 50 day simple moving average of $201.89 and a two-hundred day simple moving average of $177.48.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 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 business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Barclays lifted their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Needham & Company LLC lifted their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Piper Sandler raised their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Three 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.44.

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.