Diversified Enterprises LLC Has $3.70 Million Stake in Alphabet Inc. $GOOGL

Diversified Enterprises LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,015 shares of the information services provider’s stock after selling 1,438 shares during the quarter. Diversified Enterprises LLC’s holdings in Alphabet were worth $3,703,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. Tigress Financial lifted their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Mizuho set a $295.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a report on Monday. Four analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $237.10.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,285 shares of company stock worth $50,994,787 over the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.7%

GOOGL opened at $244.90 on Thursday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.64 and a beta of 1.00. The company’s 50 day moving average price is $219.14 and its two-hundred day moving average price is $184.66.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Alphabet Profile

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.