Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Lazari Capital Management Inc.

Lazari Capital Management Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 32.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,088 shares of the information services provider’s stock after purchasing an additional 13,134 shares during the period. Alphabet comprises 4.4% of Lazari Capital Management Inc.’s portfolio, making the stock its 5th largest position. Lazari Capital Management Inc.’s holdings in Alphabet were worth $9,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors boosted its holdings in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. grew its position in shares of Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Alphabet by 91.0% in the second quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock worth $1,450,599,000 after buying an additional 3,777,527 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $163.24 on Friday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a market cap of $2.01 trillion, a P/E ratio of 23.42, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day moving average price of $161.37 and a two-hundred day moving average price of $167.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the business posted $1.44 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 11.48%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,092 shares of company stock worth $35,644,136. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Bank of America lifted their price target on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. UBS Group upped their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.95.

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.