Horizon Investment Services LLC Has $8.33 Million Stake in Alphabet Inc. $GOOGL

Horizon Investment Services LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 47,239 shares of the information services provider’s stock after selling 1,277 shares during the period. Alphabet makes up about 3.6% of Horizon Investment Services LLC’s investment portfolio, making the stock its 5th biggest position. Horizon Investment Services LLC’s holdings in Alphabet were worth $8,325,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mystic Asset Management Inc. boosted its position in Alphabet by 6.7% in the 1st 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. Bridgeway Capital Management LLC grew its holdings in Alphabet by 17.9% during 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 period. Alaethes Wealth LLC raised its position 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 valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. Moment Partners LLC lifted its stake in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the period. Finally, Welch Group LLC lifted its stake in Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Daiwa Capital Markets upped their price target on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, New Street Research raised their price objective on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $284.28 on Wednesday. The company has a fifty day moving average price of $259.16 and a 200 day moving average price of $211.00. The firm has a market cap of $3.43 trillion, a PE ratio of 28.04, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $293.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 189,896 shares of company stock valued at $47,653,637 in the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

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.