NBC Securities Inc. Purchases 563 Shares of Alphabet Inc. $GOOGL

NBC Securities Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,181 shares of the information services provider’s stock after acquiring an additional 563 shares during the period. Alphabet comprises about 0.6% of NBC Securities Inc.’s investment portfolio, making the stock its 17th biggest position. NBC Securities Inc.’s holdings in Alphabet were worth $7,433,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Mystic Asset Management Inc. raised its position in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was 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 owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Canaccord Genuity Group raised their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Piper Sandler increased their price objective on shares of Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Rosenblatt Securities lifted their price objective on shares of Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald boosted their target price on shares of Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Wedbush lifted their price target on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.44.

Alphabet Stock Up 0.2%

Shares of GOOGL stock opened at $240.80 on Monday. The stock has a 50 day moving average of $201.89 and a 200-day moving average of $177.58. The firm has a market cap of $2.91 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $242.25.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is 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.