Accuvest Global Advisors Grows Stock Position in Alphabet Inc. $GOOGL

Key Points

• Accuvest Global Advisors increased its stake in Alphabet Inc. by 8.7%, acquiring an additional 1,883 shares, making it the firm’s 9th largest holding.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with a yield of 0.4%, to be paid on September 15th to shareholders of record on September 8th.
• In its latest earnings report, Alphabet reported an EPS of $2.31, beating analysts' expectations and generating revenues of $96.43 billion.

Accuvest Global Advisors raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,516 shares of the information services provider's stock after buying an additional 1,883 shares during the quarter. Alphabet comprises 3.1% of Accuvest Global Advisors' investment portfolio, making the stock its 9th largest holding. Accuvest Global Advisors' holdings in Alphabet were worth $3,637,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. GAMMA Investing LLC raised its stake in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. raised its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Northern Trust Corp raised its stake in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Capital Research Global Investors raised its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was 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 of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business'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 $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,819 shares of company stock valued at $49,796,547 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock traded down $0.93 during trading hours on Monday, hitting $202.97. 8,120,594 shares of the stock were exchanged, compared to its average volume of 36,489,773. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 21.62, a P/E/G ratio of 1.37 and a beta of 1.01. The company has a 50-day simple moving average of $184.25 and a two-hundred day simple moving average of $173.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion during 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Ratings Changes

Several research analysts have issued reports on GOOGL shares. BMO Capital Markets increased their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Guggenheim increased their price objective on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Bank of America raised their target price on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Stifel Nicolaus raised their target price on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Sanford C. Bernstein upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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.