Security National Bank owns $6.80M worth of Alphabet Inc shares. (NASDAQ:GOOGL)

VaselineAugust 29, 2024

0 5 minutes read

Security National Bank raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 302.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,305 shares of the information services provider’s stock after purchasing an additional 28,035 shares during the quarter. Alphabet makes up about 1.0% of Security National Bank’s portfolio, making the stock its 23rd largest holding. Security National Bank’s holdings in Alphabet were worth $6,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC boosted its holdings in Alphabet by 7.3% in the second quarter. Aaron Wealth Advisors LLC now owns 26,551 shares of the information services provider’s stock worth $4,836,000 after purchasing an additional 1,813 shares in the last quarter. Burr Financial Services LLC boosted its holdings in Alphabet by 0.9% in the second quarter. Burr Financial Services LLC now owns 12,508 shares of the information services provider’s stock worth $2,278,000 after acquiring an additional 111 shares in the last quarter. Geneva Partners LLC boosted its holdings in Alphabet by 37.6% in the second quarter. Geneva Partners LLC now owns 69,090 shares of the information services provider’s stock worth $12,585,000 after purchasing an additional 18,894 shares in the last quarter. Centennial Wealth Advisory LLC boosted its holdings in Alphabet by 12.9% in the second quarter. Centennial Wealth Advisory LLC now owns 3,590 shares of the information services provider’s stock worth $654,000 after acquiring an additional 410 shares in the last quarter. Finally, Oak Harvest Investment Services raised its holdings in Alphabet by 4.6% during the 2nd quarter. Oak Harvest Investment Services now owns 21,539 shares of the information services provider’s stock worth $3,923,000. after acquiring an additional 941 shares in the last quarter. 40.03% of the shares are currently held by institutional investors and hedge funds.

Alphabet trading down 0.9%

Shares of GOOGL stock opened at $164.68 on Wednesday. The company has a market cap of $2.04 trillion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. it has a one year low of $120.21 and a one year high of $191.75. The company’s 50-day moving average price is $174.51, and its two-hundred-day moving average price is $163.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08.

Want more great investment ideas?

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

Alphabet announces dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 9. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the 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 completion of the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the 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 completion of the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,565 shares of company stock worth $26,823,893. 11.55% of the shares are owned by company insiders.

Analyst upgrades and downgrades

GOOGL has been the subject of a number of research reports. Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Tuesday, July 30th. Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Finally, Argus boosted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat , Alphabet has an average rating of “Moderate Buy” and an average target price of $203.74.

Get the latest analysis on GOOGL

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.