Advyzon Investment Management LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Advyzon Investment Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 63.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,861 shares of the information services provider’s stock after purchasing an additional 2,274 shares during the quarter. Advyzon Investment Management LLC’s holdings in Alphabet were worth $906,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GOOGL. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $3,119,000. Cypress Capital LLC boosted its stake in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after acquiring an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its stake in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.2%

Shares of NASDAQ GOOGL opened at $201.00 on Tuesday. The stock has a market cap of $2.43 trillion, a P/E ratio of 21.41, a PEG ratio of 1.36 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business’s fifty day simple moving average is $181.53 and its 200-day simple moving average is $172.81.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at $489,572,657.16. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock valued at $49,674,273 in the last three months. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Piper Sandler lifted their target price on shares of Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Needham & Company LLC lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.53.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.