Advisory Alpha LLC Increases Stake in Alphabet Inc. $GOOGL

Key Points

• Advisory Alpha LLC increased its stake in Alphabet Inc. by 17.9%, owning 22,442 shares worth approximately $3.47 million after acquiring an additional 3,407 shares in Q1.
• Alphabet announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.4% and a payout ratio of 8.95%.
• Brokerages have raised their price targets on Alphabet, with Canaccord Genuity raising it to $270.00 and three analysts rating the stock as a Strong Buy.

Advisory Alpha LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,442 shares of the information services provider's stock after purchasing an additional 3,407 shares during the period. Advisory Alpha LLC's holdings in Alphabet were worth $3,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 0.4%

Shares of NASDAQ:GOOGL opened at $234.04 on Tuesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $238.13. The firm has a market capitalization of $2.83 trillion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. 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 firm's 50-day moving average is $196.95 and its two-hundred day moving average is $175.73.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. BMO Capital Markets raised their target price on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Susquehanna raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Wedbush raised their target price on Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. BNP Paribas Exane restated a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.44.

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.

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