Accuvest Global Advisors Raises Stock Holdings in Alphabet Inc. (NASDAQ: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 grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,516 shares of the information services provider's stock after purchasing an additional 1,883 shares during the quarter. Alphabet makes up 3.1% of Accuvest Global Advisors' holdings, making the stock its 9th biggest position. Accuvest Global Advisors' holdings in Alphabet were worth $3,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cresta Advisors Ltd. grew its holdings in shares of Alphabet by 16.8% in the first quarter. Cresta Advisors Ltd. now owns 10,112 shares of the information services provider's stock valued at $1,564,000 after purchasing an additional 1,457 shares in the last quarter. One Degree Advisors Inc grew its stake in Alphabet by 7.2% in the 1st quarter. One Degree Advisors Inc now owns 3,751 shares of the information services provider's stock valued at $580,000 after acquiring an additional 251 shares during the last quarter. Ironwood Investment Counsel LLC boosted its stake in shares of Alphabet by 3.6% during the 1st quarter. Ironwood Investment Counsel LLC now owns 76,498 shares of the information services provider's stock worth $11,830,000 after purchasing an additional 2,661 shares during the last quarter. CenterBook Partners LP boosted its position in shares of Alphabet by 43.8% in the first quarter. CenterBook Partners LP now owns 194,231 shares of the information services provider's stock worth $30,036,000 after acquiring an additional 59,184 shares during the last quarter. Finally, Keynote Financial Services LLC boosted its position in shares of Alphabet by 0.6% in the first quarter. Keynote Financial Services LLC now owns 15,536 shares of the information services provider's stock worth $2,402,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GOOGL shares. Roth Capital lifted their price target 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. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. Piper Sandler boosted their price objective on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Stifel Nicolaus lifted 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, JMP Securities boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Price Performance

Shares of GOOGL stock traded up $0.96 during mid-day trading on Friday, reaching $203.90. The company's stock had a trading volume of 34,909,706 shares, compared to its average volume of 37,799,464. The company has a market cap of $2.47 trillion, a P/E ratio of 21.71, a PEG ratio of 1.37 and a beta of 1.01. 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 firm's 50-day moving average is $184.25 and its two-hundred day moving average is $173.20. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts predict 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. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 274,819 shares of company stock worth $49,796,547. Insiders own 11.64% of the company's stock.

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.