London & Capital Asset Management Ltd increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 27.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,836 shares of the information services provider’s stock after purchasing an additional 9,392 shares during the period. London & Capital Asset Management Ltd’s holdings in Alphabet were worth $6,616,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC raised its stake in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the transaction, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The disclosure for this sale can be found here. Insiders sold 99,126 shares of company stock valued at $17,617,549 over the last quarter. Insiders own 11.55% of the company’s stock.
Alphabet Price Performance
GOOGL opened at $171.54 on Thursday. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $178.65 and a 200 day moving average price of $161.07.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm earned $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 12.27%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Guggenheim boosted their price objective on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Piper Sandler boosted their price objective on Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Sanford C. Bernstein boosted their price objective on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.74.
Read Our Latest Stock Report on Alphabet
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.
See Also
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