New World Advisors LLC Boosts Holdings in Alphabet Inc. $GOOGL

New World Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 77.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,124 shares of the information services provider’s stock after acquiring an additional 3,533 shares during the period. Alphabet comprises approximately 0.3% of New World Advisors LLC’s portfolio, making the stock its 12th largest position. New World Advisors LLC’s holdings in Alphabet were worth $1,432,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cozad Asset Management Inc. grew its holdings in shares of Alphabet by 4.2% during the second quarter. Cozad Asset Management Inc. now owns 104,849 shares of the information services provider’s stock worth $18,478,000 after purchasing an additional 4,207 shares during the last quarter. Guerra Pan Advisors LLC boosted its position in shares of Alphabet by 0.3% in the 2nd quarter. Guerra Pan Advisors LLC now owns 28,511 shares of the information services provider’s stock valued at $5,024,000 after purchasing an additional 87 shares during the period. Bahl & Gaynor Inc. grew its stake in Alphabet by 52.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 344,560 shares of the information services provider’s stock worth $60,722,000 after buying an additional 118,659 shares during the last quarter. AlphaCore Capital LLC increased its position in Alphabet by 65.9% during the second quarter. AlphaCore Capital LLC now owns 76,168 shares of the information services provider’s stock worth $13,423,000 after buying an additional 30,268 shares during the period. Finally, Mufg Securities Americas Inc. lifted its stake in Alphabet by 24.9% in the second quarter. Mufg Securities Americas Inc. now owns 128,988 shares of the information services provider’s stock valued at $22,732,000 after buying an additional 25,735 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOGL. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. UBS Group reiterated a “neutral” rating and set a $306.00 price target (up previously from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Truist Financial lifted their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Royal Bank Of Canada reiterated a “buy” rating and set a $315.00 target price on shares of Alphabet in a research note on Tuesday. Finally, CIBC raised their price target on Alphabet to $315.00 in a report on Monday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $319.63 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.86 trillion, a P/E ratio of 31.52, a PEG ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a 50-day moving average price of $273.22 and a 200 day moving average price of $222.36.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 193,628 shares of company stock worth $50,942,622. 11.64% of the stock is owned by corporate 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.