Teramo Advisors LLC Invests $343,000 in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Teramo Advisors LLC has recently acquired 2,220 shares of Alphabet Inc. for approximately $343,000, making Alphabet its 7th largest holding.
• Alphabet announced a quarterly dividend of $0.21 per share, to be paid on September 15th, with a dividend yield of 0.43%.
• Analysts have raised their price targets for Alphabet, with Wedbush setting it at $225.00 and Needham & Company LLC at $220.00, reflecting a strong positive outlook for the stock.

Teramo Advisors LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,220 shares of the information services provider's stock, valued at approximately $343,000. Alphabet makes up about 0.1% of Teramo Advisors LLC's holdings, making the stock its 7th largest position.

Other large investors also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at about $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter valued at about $39,000. Elite Financial Inc. acquired a new position in Alphabet in the first quarter valued at about $42,000. Anderson Financial Strategies LLC acquired a new position in Alphabet in the fourth quarter valued at about $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in Alphabet in the first quarter valued at about $49,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOGL shares. BMO Capital Markets upped their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Cantor Fitzgerald increased their price target on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Bank of America increased their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Tigress Financial increased their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Alphabet Stock Performance

Shares of GOOGL traded down $2.77 during mid-day trading on Friday, reaching $189.13. 34,777,882 shares of the company's stock were exchanged, compared to its average volume of 37,170,977. 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 stock has a market capitalization of $2.30 trillion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The business's fifty day simple moving average is $177.91 and its 200-day simple moving average is $173.12. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock valued at $43,525,794 over the last three months. 11.64% of the stock is currently owned by company 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.