Spurstone Advisory Services LLC Buys Shares of 480 Alphabet Inc. $GOOGL

Spurstone Advisory Services LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 480 shares of the information services provider’s stock, valued at approximately $85,000. Alphabet makes up about 1.3% of Spurstone Advisory Services LLC’s holdings, making the stock its 16th largest position.

Several other large investors have also bought and sold shares of GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of 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 purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in Alphabet in the 1st quarter valued at approximately $50,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. President Capital boosted their target price on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. BNP Paribas Exane raised their price objective on Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a research report on Wednesday, October 22nd. Finally, Wolfe Research reissued an “outperform” rating and set a $350.00 price target (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

Alphabet Trading Down 0.3%

Shares of GOOGL stock opened at $284.28 on Wednesday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $293.95. 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 stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.86 and a beta of 1.05. The stock has a 50-day moving average of $259.16 and a 200-day moving average of $211.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 189,896 shares of company stock worth $47,653,637. Corporate insiders own 11.64% of the company’s stock.

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.