Alphabet Inc. $GOOGL Shares Purchased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,471 shares of the information services provider’s stock after purchasing an additional 43,026 shares during the quarter. Alphabet comprises 3.1% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 7th biggest position. UNIVEST FINANCIAL Corp’s holdings in Alphabet were worth $51,542,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Silver Coast Investments LLC increased its holdings in shares of Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after buying an additional 55 shares during the last quarter. Simon Quick Advisors LLC grew its position in Alphabet by 20.3% in the second quarter. Simon Quick Advisors LLC now owns 79,293 shares of the information services provider’s stock worth $13,974,000 after acquiring an additional 13,360 shares during the period. Arbor Capital Management Inc. ADV increased its stake in Alphabet by 6.0% during the second quarter. Arbor Capital Management Inc. ADV now owns 12,144 shares of the information services provider’s stock worth $2,287,000 after acquiring an additional 692 shares during the last quarter. Coign Capital Advisors LLC raised its position in Alphabet by 9.7% in the second quarter. Coign Capital Advisors LLC now owns 1,747 shares of the information services provider’s stock valued at $308,000 after purchasing an additional 155 shares during the period. Finally, KLCM Advisors Inc. lifted its stake in shares of Alphabet by 2.3% in the 2nd quarter. KLCM Advisors Inc. now owns 14,775 shares of the information services provider’s stock valued at $2,604,000 after purchasing an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,796 shares of company stock valued at $53,983,001 over the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.4%

Alphabet stock opened at $291.31 on Wednesday. The firm has a market capitalization of $3.52 trillion, a P/E ratio of 28.73, a P/E/G ratio of 1.86 and a beta of 1.05. 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 twelve month low of $140.53 and a twelve month high of $291.92. The stock’s fifty day simple moving average is $254.37 and its 200-day simple moving average is $206.73.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Melius Research boosted their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Guggenheim lifted their target price on shares of Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group boosted their target price on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet Company 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.