Alphabet Inc. $GOOG Shares Acquired by Adalta Capital Management LLC

Key Points

• Adalta Capital Management LLC increased its holdings in Alphabet Inc. by 41.8%, now owning 11,184 shares valued at approximately $1,747,000.
• Director John L. Hennessy sold 600 shares of Alphabet on August 13th, resulting in an 8.68% decrease in his position.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.4%, set to be paid on September 15th.

Adalta Capital Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 41.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,184 shares of the information services provider's stock after buying an additional 3,299 shares during the period. Alphabet comprises approximately 0.9% of Adalta Capital Management LLC's holdings, making the stock its 26th biggest position. Adalta Capital Management LLC's holdings in Alphabet were worth $1,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the 1st quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in Alphabet in the 1st quarter valued at about $32,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the 1st quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet in the 1st quarter valued at about $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm'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 of the company's stock, valued at approximately $44,656,704. This represents 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 worth $49,208,380 in the last quarter. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG opened at $235.17 on Monday. The firm's 50 day moving average is $196.65 and its 200-day moving average is $176.75. The stock has a market capitalization of $2.84 trillion, a P/E ratio of 25.04, a P/E/G 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. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $236.13.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOG shares. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research lifted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Scotiabank raised their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $227.56.

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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