Archer Investment Corp Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Archer Investment Corp grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,750 shares of the information services provider’s stock after buying an additional 301 shares during the quarter. Alphabet accounts for approximately 1.0% of Archer Investment Corp’s holdings, making the stock its 21st biggest holding. Archer Investment Corp’s holdings in Alphabet were worth $3,415,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Nebula Research & Development LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $787,000. New Hampshire Trust increased its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Matisse Capital lifted its position in shares of Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after purchasing an additional 2,026 shares during the last quarter. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its holdings in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Tigress Financial raised their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Morgan Stanley dropped their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets reissued an “outperform” rating and set a $222.00 price target on shares of Alphabet in a research report on Monday. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Monday. Finally, Wolfe Research began coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,167 shares of company stock valued at $30,139,931. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.4 %

GOOGL opened at $158.06 on Tuesday. 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 Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a fifty day moving average of $166.84 and a two-hundred day moving average of $165.01. The stock has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.13 and a beta of 1.04.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.