Syverson Strege & Co Increases Stock Position in Alphabet Inc. $GOOGL

Syverson Strege & Co raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 259.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,175 shares of the information services provider’s stock after buying an additional 3,735 shares during the period. Syverson Strege & Co’s holdings in Alphabet were worth $912,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Saxony Capital Management LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $468,000. Great Lakes Retirement Inc. boosted its position in Alphabet by 1.7% during the second quarter. Great Lakes Retirement Inc. now owns 125,408 shares of the information services provider’s stock worth $22,101,000 after purchasing an additional 2,058 shares in the last quarter. NWK Group Inc. grew its holdings in Alphabet by 47.2% in the second quarter. NWK Group Inc. now owns 71,360 shares of the information services provider’s stock valued at $12,576,000 after purchasing an additional 22,891 shares during the period. Leeward Financial Partners LLC grew its holdings in Alphabet by 9.8% in the second quarter. Leeward Financial Partners LLC now owns 44,733 shares of the information services provider’s stock valued at $7,883,000 after purchasing an additional 3,982 shares during the period. Finally, Haven Private LLC raised its stake in shares of Alphabet by 67.6% during the 2nd quarter. Haven Private LLC now owns 6,086 shares of the information services provider’s stock worth $1,073,000 after buying an additional 2,454 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GOOGL shares. Bank of America lifted their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley increased their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Melius Research boosted their target price on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred 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 directly owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 221,796 shares of company stock worth $53,983,001 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.6%

GOOGL opened at $286.71 on Thursday. The firm has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company’s 50 day simple moving average is $255.49 and its two-hundred day simple moving average is $207.29. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $292.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Alphabet 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.