Boit CF David increases holdings in Alphabet Inc. (NASDAQ:GOOGL)

Boit CF David increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,722 shares of the information services provider’s stock after acquiring an additional 400 shares during the quarter. Alphabet accounts for 3.4% of Boit CF David’s portfolio, making the stock its 7th largest holding. Boit CF David’s holdings in Alphabet were worth $6,507,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the period. Finally, Richardson Capital Management LLC raised its stake in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s shares.

Alphabet Stock 1.0%

GOOGL stock traded up $1.64 during mid-day trading on Friday, hitting $163.67. The stock had a trading volume of 28,602,285 shares, compared to its average volume of 28,282,494. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08. 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 $177.03, and its two-hundred-day moving average is $161.88.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last released its quarterly earnings data 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 firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. In the same period last year, the company earned $1.44 per share. On average, analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabetical announcement of dividends

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

Insider trading at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on 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 owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders have sold a total of 122,308 shares of company stock worth $21,385,000 over the last 90 days. Insiders own 11.55% of the company’s shares.

Analysts set new price targets

A number of equities analysts have recently weighed in on the company. Evercore ISI boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 11th. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Piper Sandler raised their target price on shares of Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Argus boosted their price objective on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.74.

See the latest stock analysis on GOOGL

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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