Hughes Financial Services LLC Has $232,000 Position in Alphabet Inc. $GOOGL

Hughes Financial Services LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 39.9% in the second quarter, Holdings Channel reports. The institutional investor owned 1,315 shares of the information services provider’s stock after buying an additional 375 shares during the period. Hughes Financial Services LLC’s holdings in Alphabet were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. grew its position in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the period. Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. Moment Partners LLC increased its position in Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the period. Finally, Welch Group LLC raised its holdings in Alphabet by 4.0% during the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Melius Research increased their price objective on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Guggenheim increased their price target on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Tigress Financial boosted their price objective on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Bank of America upped their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Daiwa Capital Markets lifted their target price on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

Alphabet Stock Up 3.5%

Shares of NASDAQ:GOOGL opened at $299.66 on Friday. The business’s 50 day simple moving average is $262.39 and its two-hundred day simple moving average is $213.40. The firm has a market cap of $3.62 trillion, a P/E ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $306.42.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping 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 company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 225,174 shares of company stock worth $58,095,223 over the last three months. 11.64% of the stock is currently owned by insiders.

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.