Recent transactions indicate that several large investors have increased their Alphabet shares. MorganRosel Wealth Management LLC raised its stake by 3.6%, owning 1,620 shares worth $295,000. Hengehold Capital Management LLC increased its holding by 0.8% to 7,224 shares valued at $1.316 million. Christopher J. Hasenberg Inc. boosted its investment by 75% to 140 shares worth $26,000. Joseph P. Lucia & Associates LLC’s stake grew by 1.0% to 6,624 shares valued at $1 million. Sunflower Bank N.A. also raised its stake to 6,309 shares worth $1.149 million. Overall, institutional investors hold 40.03% of Alphabet’s shares.
Insider Transactions at Alphabet
CEO Sundar Pichai sold 22,500 Alphabet shares on July 17 at $182.84 each, totaling $4,113,900. After the sale, he owns about 2.2 million shares valued at $403 million. Similarly, CAO Amie Thuener O’toole sold 682 shares on August 2 for $114,576, maintaining ownership of 31,334 shares worth $5.26 million. In total, insiders sold 216,092 shares valued at $35.64 million in the last 90 days. Insider ownership stands at 11.55%.
Wall Street Analysts Forecast Growth
Analysts recently adjusted their price targets for Alphabet. Mizuho raised its target from $205 to $210 with an “outperform” rating. JPMorgan Chase increased its price target from $200 to $208. Wells Fargo lowered its target from $190 to $182. Tigress Financial raised theirs from $210 to $220 with a “strong-buy” rating, while BMO Capital Markets lowered it from $222 to $215. Overall, 28 analysts rated it as a buy, 8 as hold, and 4 as strong buy, giving Alphabet an average rating of “Moderate Buy” with a target price of $200.95.
Read Our Latest Research Report on GOOGL
Alphabet Stock Up 0.7 %
On Friday, NASDAQ GOOGL opened at $163.24. It has a 50-day moving average of $161.37 and a 200-day average of $167.75. Alphabet’s market cap is $2.02 trillion, with a P/E ratio of 25.04 and a PEG ratio of 1.21. The stock has a 12-month low of $120.21 and a high of $191.75. Recently, Alphabet reported earnings of $1.89 per share, above the estimate of $1.85, with revenue reaching $84.74 billion.
Alphabet Dividend Announcement
The company announced a quarterly dividend of $0.20, paid on September 16, which results in an annualized dividend of $0.80, giving a yield of 0.49%. The dividend payout ratio stands at 12.27%.
Alphabet Profile
Alphabet Inc. provides various products and platforms worldwide, operating through Google Services, Google Cloud, and Other Bets. The Google Services segment includes ads, Android, Chrome, Gmail, Google Maps, and YouTube.
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