Alphabet Inc. (NASDAQ:GOOGL) is Beese Fulmer Investment Management Inc.’s 8th Largest Position

Beese Fulmer Investment Management Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 144,051 shares of the information services provider’s stock after purchasing an additional 5,283 shares during the period. Alphabet makes up about 2.4% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 8th largest position. Beese Fulmer Investment Management Inc.’s holdings in Alphabet were worth $26,239,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Tributary Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC increased its stake in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. TD Securities increased their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. BMO Capital Markets restated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a report on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Stock Performance

Alphabet stock opened at $161.17 on Wednesday. The company has a market cap of $1.98 trillion, a PE ratio of 24.28, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a fifty day moving average price of $177.75 and a two-hundred day moving average price of $161.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted $1.44 EPS. Research analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the completion of the transaction, the director now owns 4,391 shares in the company, valued at approximately $738,039.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $168.08, for a total value of $252,120.00. Following the transaction, the director now owns 4,391 shares in the company, valued at $738,039.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,808 shares of company stock valued at $17,732,125. 11.55% of the stock is owned by corporate insiders.

Alphabet Company 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.