AJ Advisors LLC Buys 806 Shares of Alphabet Inc. (NASDAQ:GOOGL)

by · The Cerbat Gem

AJ Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 22.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,445 shares of the information services provider’s stock after acquiring an additional 806 shares during the quarter. Alphabet accounts for 0.4% of AJ Advisors LLC’s holdings, making the stock its 17th largest position. AJ Advisors LLC’s holdings in Alphabet were worth $687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% during the 1st 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 in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at about $39,000. Finally, Elite Financial Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at about $42,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Morgan Stanley boosted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Wedbush boosted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Roth Capital boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Westpark Capital boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.39.

View Our Latest Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,399 shares of company stock valued at $43,525,794. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Down 2.4%

Shares of NASDAQ:GOOGL opened at $191.90 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.33 trillion, a PE ratio of 20.44, a PEG ratio of 1.33 and a beta of 1.00. The company has a 50 day moving average price of $177.91 and a two-hundred day moving average price of $173.12.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Alphabet Company Profile

(Free Report)

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.

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