DMKC Advisory Services LLC Buys New Shares in Alphabet Inc. $GOOGL

DMKC Advisory Services LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, HoldingsChannel reports. The fund bought 1,313 shares of the information services provider’s stock, valued at approximately $241,000.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $241.53 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $225.37 and a two-hundred day simple moving average of $188.04. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on GOOGL shares. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. DA Davidson increased their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Loop Capital reiterated a “hold” rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Guggenheim increased their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Mizuho set a $295.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research note on Monday, September 29th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $244.62.

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.