4,200 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Battery Global Advisors LLC

Key Points

• Battery Global Advisors LLC has acquired 4,200 shares of Alphabet Inc., valued at approximately $649,000, making Alphabet their 23rd biggest holding.
• A number of research firms have raised their price targets for Alphabet, with DA Davidson setting a new objective of $180 and Roth Capital adjusting theirs to $210, indicating a generally positive outlook on the stock.
• Alphabet is set to pay a quarterly dividend of $0.21 on September 15th, representing an annualized yield of 0.4% and a payout ratio of 8.95%.

Battery Global Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,200 shares of the information services provider's stock, valued at approximately $649,000. Alphabet comprises 0.4% of Battery Global Advisors LLC's holdings, making the stock its 23rd biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mystic Asset Management Inc. boosted its stake in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co boosted its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new position in Alphabet in the 4th quarter worth approximately $3,119,000. Cypress Capital LLC boosted its stake in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the period. Finally, Optivise Advisory Services LLC boosted its stake in Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOGL. DA Davidson raised their price objective on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Roth Capital raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald lifted their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated 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 directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 274,219 shares of company stock worth $49,674,273. Insiders own 11.64% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $201.96 on Thursday. The firm's 50-day moving average is $182.95 and its 200-day moving average is $173.22. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.51, a PEG ratio of 1.37 and a beta of 1.01.

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 company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

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