Magnus Financial Group LLC Has $5.78 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Magnus Financial Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 8.6% during the second quarter, Holdings Channel.com reports. The firm owned 31,756 shares of the information services provider’s stock after acquiring an additional 2,514 shares during the period. Magnus Financial Group LLC’s holdings in Alphabet were worth $5,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gratus Capital LLC lifted its position in Alphabet by 17.1% during the 4th quarter. Gratus Capital LLC now owns 225,943 shares of the information services provider’s stock valued at $31,562,000 after purchasing an additional 33,039 shares during the period. McKinley Carter Wealth Services Inc. grew its stake in shares of Alphabet by 7.0% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 76,863 shares of the information services provider’s stock worth $10,737,000 after purchasing an additional 5,057 shares during the period. Checchi Capital Advisers LLC increased its holdings in Alphabet by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 48,300 shares of the information services provider’s stock valued at $6,747,000 after purchasing an additional 564 shares during the last quarter. Partnership Wealth Management LLC acquired a new position in Alphabet in the fourth quarter valued at about $80,000. Finally, King Wealth Management Group boosted its holdings in Alphabet by 5.0% during the fourth quarter. King Wealth Management Group now owns 49,758 shares of the information services provider’s stock worth $6,951,000 after buying an additional 2,388 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock worth $30,139,931 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $158.06 on Tuesday. The company has a market cap of $1.95 trillion, a P/E ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $166.84 and its two-hundred day moving average price is $165.01. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the business earned $1.44 EPS. Equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. 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 0.51%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOGL shares. Bank of America upped their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Monday. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Finally, Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Check Out Our Latest Report on GOOGL

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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