Shares of Alphabet Inc. (NASDAQ:GOOG) acquired by Van Hulzen Asset Management LLC

VaselineSeptember 13, 2024

0 4 minutes read

Van Hulzen Asset Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.7% during the second quarter, HoldingsChannel reports. The firm owned 13,690 shares of the information services provider’s stock after acquiring an additional 861 shares during the period. Van Hulzen Asset Management LLC’s holdings in Alphabet were worth $2,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $34,000. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at about $37,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter valued at about $44,000. Hoese & Co LLP boosted its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $48,000. 27.26% of the shares are currently held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

GOOG has been the subject of several recent analyst reports. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Moderate Buy” and a consensus price target of $182.86, according to MarketBeat .

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Indoor activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,867 shares of company stock worth $34,218,581. 12.99% of shares are currently owned by company insiders.

Alphabet trading up 2.2%

NASDAQ:GOOG opened at $155.54 on Friday. The company’s 50-day moving average is $169.73, and its two-hundred-day moving average is $165.83. The firm has a market cap of $1.92 trillion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. 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 (NASDAQ:GOOG – Get Your Free Report ) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue increased by 13.6% year-on-year. In the same period last year, the business posted EPS of $1.44. Research analysts predict that Alphabet Inc. will post 7.63 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 paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

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.