AGP Franklin LLC Has $4.30 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

AGP Franklin LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,498 shares of the information services provider's stock after acquiring an additional 5,947 shares during the quarter. Alphabet makes up 2.6% of AGP Franklin LLC's portfolio, making the stock its 9th biggest position. AGP Franklin LLC's holdings in Alphabet were worth $4,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Eagle Capital Management LLC raised its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC raised its holdings in Alphabet by 22.7% in the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after purchasing an additional 13,564 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on GOOGL. Needham & Company LLC increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley increased their price objective on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Citigroup increased their price objective on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, Wells Fargo & Company raised their price target on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Ten equities 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on 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 sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,399 shares of company stock worth $43,525,794. Insiders own 11.55% of the company's stock.

Alphabet Stock Up 3.1%

GOOGL stock opened at $195.04 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.36 trillion, a P/E ratio of 20.77, a PEG ratio of 1.28 and a beta of 1.01. The business's 50-day moving average price is $178.85 and its 200-day moving average price is $172.81.

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 for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given 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 of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Alphabet 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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