Lynx Investment Advisory Acquires 591 Shares of Alphabet Inc. $GOOGL

Lynx Investment Advisory boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,304 shares of the information services provider’s stock after buying an additional 591 shares during the quarter. Alphabet makes up about 1.5% of Lynx Investment Advisory’s holdings, making the stock its 20th biggest holding. Lynx Investment Advisory’s holdings in Alphabet were worth $2,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its holdings in 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 buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the 1st quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.5%

NASDAQ:GOOGL opened at $240.37 on Friday. 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 company has a 50-day moving average price of $200.66 and a 200-day moving average price of $177.03. The stock has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 1.61 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $242.25.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson upped their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Susquehanna boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Finally, Wells Fargo & Company raised their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last quarter. 11.64% of the stock is owned by insiders.

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.