Armstrong Henry H Associates Inc. Sells 298 Shares of Alphabet Inc. $GOOGL

Armstrong Henry H Associates Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 35,417 shares of the information services provider’s stock after selling 298 shares during the period. Alphabet accounts for 0.6% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 14th largest holding. Armstrong Henry H Associates Inc.’s holdings in Alphabet were worth $6,242,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% in 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 period. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in 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 period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the 1st quarter valued at $39,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,710 shares of company stock worth $49,208,380. 11.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Tigress Financial increased their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Cantor Fitzgerald increased their price target on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Citigroup reiterated an “outperform” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Bank of America increased their price target on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Piper Sandler increased their price target on Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.44.

Alphabet Stock Performance

Shares of GOOGL opened at $240.80 on Friday. The stock’s 50-day simple moving average is $201.89 and its 200 day simple moving average is $177.51. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $242.25.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 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.