1832 Asset Management L.P. Has $235.28 Million Holdings in Alphabet Inc. $GOOG

Key Points

• 1832 Asset Management L.P. increased its stake in Alphabet Inc. by 1.5%, bringing its total holdings to 1,505,971 shares valued at approximately $235 million.
• In the most recent earnings report, Alphabet reported an EPS of $2.31, surpassing estimates, with revenues of $96.43 billion, a 13.8% increase year-over-year.
• The company announced a quarterly dividend of $0.21 per share to be paid on September 15, representing an annualized dividend yield of 0.4% and a payout ratio of 8.95%.

1832 Asset Management L.P. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,505,971 shares of the information services provider's stock after acquiring an additional 22,475 shares during the quarter. 1832 Asset Management L.P.'s holdings in Alphabet were worth $235,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ARQ Wealth Advisors LLC boosted its holdings in shares of Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after acquiring an additional 1,400 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares in the last quarter. Fermata Advisors LLC boosted its holdings in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after acquiring an additional 259 shares in the last quarter. jvl associates llc boosted its holdings in shares of Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after acquiring an additional 343 shares in the last quarter. Finally, Members Trust Co boosted its holdings in shares of Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after acquiring an additional 2,292 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $200.62 on Friday. The firm has a fifty day moving average of $187.09 and a two-hundred day moving average of $174.87. The stock has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer owned 2,462,392 shares in the company, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,719 shares of company stock worth $47,223,172. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOG. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

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.

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