Rovin Capital UT ADV owns $1.74M stake in Alphabet Inc. (NASDAQ:GOOGL)

Rovin Capital UT ADV grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,545 shares of the information services provider’s stock after acquiring an additional 824 shares during the quarter. Rovin Capital UT ADV’s holdings in Alphabet were worth $1,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at $15,441,917,000. Capital Research Global Investors boosted its holdings in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Fisher Asset Management LLC raised its position in shares of Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after buying another 1,472,043 shares in the last quarter. Finally, Capital World Investors raised its stake in Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the period. Institutional investors own 40.03% of the company’s shares.

The Wall Street analyst weighs in

A number of research analysts have issued reports on the company. Sanford C. Bernstein upped their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. TD Securities upped their target price on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Robert W. Baird upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Raymond James boosted their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, UBS Group boosted their price target on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Get the latest stock analysis on GOOGL

Alphabet stock fell 1.2%

Shares of GOOGL stock opened at $163.80 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08, and a debt-to-equity ratio of 0.04. Alphabet Inc. it has a 12-month low of $120.21 and a 12-month high of $191.75. The company’s 50-day moving average is $174.96 and its 200-day moving average is $162.89. The stock has a market cap of $2.02 trillion, a PE ratio of 25.12, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. In the same quarter last year, the company posted earnings of $1.44 per share. Equity research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, September 9. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider buying and selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders sold 156,565 shares of company stock worth $26,823,893 over the last quarter. 11.55% of the shares are owned by company insiders.

Alphabet Company Profile

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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