113,580 Shares in Alphabet Inc. $GOOGL Acquired by Lodge Hill Capital LLC

Key Points

• Lodge Hill Capital LLC acquired 113,580 shares of Alphabet Inc. valued at approximately $17.56 million, making it the 11th biggest position in their portfolio.
• Alphabet's CEO Sundar Pichai sold 32,500 shares worth about $6.50 million, which decreased his ownership by 1.30%.
• Equities analysts have rated Alphabet with multiple price target increases, with a consensus target of $211.53 and positive ratings from several firms, including Citigroup and Guggenheim.

Lodge Hill Capital LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 113,580 shares of the information services provider's stock, valued at approximately $17,564,000. Alphabet accounts for approximately 4.2% of Lodge Hill Capital LLC's investment portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Eagle Capital Management LLC boosted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares during the period. Brighton Jones LLC boosted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the period. Highview Capital Management LLC DE boosted its holdings in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares during the period. Finally, Legacy Investment Solutions LLC boosted its holdings in shares of Alphabet by 13.7% during the fourth quarter. Legacy Investment Solutions LLC now owns 980 shares of the information services provider's stock valued at $182,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Piper Sandler boosted their price target on shares of Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Wedbush boosted their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, August 21st. Finally, Susquehanna boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. This represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $47,225,230 over the last quarter. Company insiders own 11.55% of the company's stock.

Alphabet Trading Up 0.6%

NASDAQ GOOGL traded up $1.27 on Friday, hitting $212.91. 39,702,089 shares of the company were exchanged, compared to its average volume of 29,138,272. The company's 50 day moving average price is $190.44 and its 200-day moving average price is $173.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $214.65.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

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.