WNY Asset Management LLC Increases Holdings in Alphabet Inc. $GOOGL

WNY Asset Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 6,979 shares of the information services provider’s stock after acquiring an additional 357 shares during the quarter. WNY Asset Management LLC’s holdings in Alphabet were worth $1,230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Nuveen LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Amundi boosted its holdings in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. boosted its holdings in Alphabet by 178.3% in the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after purchasing an additional 2,565,400 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Wells Fargo & Company boosted their price objective on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. President Capital lifted their price target on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho set a $325.00 price target on Alphabet in a report on Thursday, October 30th. BNP Paribas Exane upped their price objective on Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $304.10.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% 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 222,396 shares of company stock valued at $54,105,275. 11.64% of the stock is owned by company insiders.

Alphabet Stock Down 2.1%

Alphabet stock opened at $278.83 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.37 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $251.23 and a 200-day simple moving average of $204.90. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $99.90 billion. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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%.

About Alphabet

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.