Foundations Investment Advisors LLC Buys 17,326 Shares of Alphabet Inc. $GOOGL

Foundations Investment Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,950 shares of the information services provider’s stock after purchasing an additional 17,326 shares during the period. Foundations Investment Advisors LLC’s holdings in Alphabet were worth $37,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wrapmanager Inc. lifted its holdings in Alphabet by 1.6% in the second quarter. Wrapmanager Inc. now owns 20,186 shares of the information services provider’s stock valued at $3,557,000 after buying an additional 312 shares during the period. Tiff Advisory Services LLC grew its holdings in Alphabet by 7.6% during the 2nd quarter. Tiff Advisory Services LLC now owns 16,236 shares of the information services provider’s stock worth $2,861,000 after acquiring an additional 1,151 shares during the period. Jacksonville Wealth Management LLC raised its position in shares of Alphabet by 16.6% during the 2nd quarter. Jacksonville Wealth Management LLC now owns 2,180 shares of the information services provider’s stock valued at $384,000 after acquiring an additional 310 shares during the last quarter. RAM Investment Partners LLC lifted its stake in shares of Alphabet by 4.7% in the 2nd quarter. RAM Investment Partners LLC now owns 9,590 shares of the information services provider’s stock valued at $1,690,000 after purchasing an additional 433 shares during the period. Finally, Advisors Capital Management LLC boosted its position in shares of Alphabet by 3.7% in the 2nd quarter. Advisors Capital Management LLC now owns 413,701 shares of the information services provider’s stock worth $72,907,000 after purchasing an additional 14,816 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the sale, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 225,072 shares of company stock valued at $58,074,027. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOOGL shares. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Cantor Fitzgerald upped their price target on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. CICC Research increased their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Daiwa Capital Markets boosted their price objective on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, President Capital upped their target price on shares of Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

Alphabet Stock Down 1.1%

GOOGL stock opened at $319.95 on Thursday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The business’s 50 day simple moving average is $266.58 and its 200 day simple moving average is $216.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a PEG ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

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

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.