Bennett Selby Investments LP buys 1,302 shares of Alphabet Inc. (NASDAQ:GOOGL)

VaselineAugust 10, 2024

0 4 minutes read

Bennett Selby Investments LP purchased a new position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,302 shares of the information services provider’s stock, valued at approximately $237,000.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Moody Lynn & Lieberson LLC boosted its stake in shares of Alphabet by 3.0% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 397,626 shares of the information services provider’s stock worth $55,544,000 after purchasing an additional 11,505 shares in the last quarter. Traveka Wealth LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $2,324,000. Financial Security Advisor Inc. boosted its holdings in Alphabet by 4.2% in the 4th quarter. Financial Security Advisor Inc. now owns 30,781 shares of the information services provider’s stock valued at $4,300,000 after purchasing an additional 1,229 shares in the last quarter. Arvest Trust Co. NA raised its stake in Alphabet by 22.8% in the fourth quarter. Arvest Trust Co. NA now owns 5,505 shares of the information services provider’s stock valued at $769,000 after purchasing an additional 1,022 shares during the period. Finally, ABLE Financial Group LLC raised its stake in shares of Alphabet by 7.9% during the 4th quarter. ABLE Financial Group LLC now owns 9,593 shares of the information services provider’s stock valued at $1,340,000 , after buying an additional 706 shares during the period. 40.03% of the shares are held by institutional investors and hedge funds.

Analysts set new price targets

A number of research analysts recently commented on the company. Citigroup boosted their price objective on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Monday, July 22nd. TD Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Tuesday. Finally, Piper Sandler upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research note 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 assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Moderate Buy” and an average price target of $203.74, according to MarketBeat .

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Insiders place their bets

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 approximately $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the transaction, the director now directly owns 4,391 shares in the company, valued at $738,039.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,308 shares of company stock worth $21,385,000. Insiders own 11.55% of the company’s shares.

Alphabet stock performance

GOOGL stock traded up $1.64 during mid-day trading on Friday, hitting $163.67. 28,602,285 shares of the stock exchanged hands, compared to its average volume of 28,282,494. The stock’s fifty day simple moving average is $177.03, and its two hundred day simple moving average is $161.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08. Alphabet Inc. it has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last released 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. In the same quarter last year, the business posted EPS of $1.44. On average, analysts estimate that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet announces dividend

The firm 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 dividend of $0.20 per share. 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 is currently 12.27%.

Profile of the alphabet

(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.