Alphabet Inc. $GOOGL Position Increased by Hamilton Capital Partners LLC

Key Points

• Hamilton Capital Partners LLC increased its stake in Alphabet Inc. by 102.0% during the second quarter, making it the largest holding in their portfolio with a value of approximately $38.66 million.
• Analysts have given Alphabet a consensus rating of "Moderate Buy", with a target price of $240.76 and multiple firms boosting their price objectives significantly in recent reports.
• Alphabet announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3% and an 8.95% dividend payout ratio.

Hamilton Capital Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 102.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,385 shares of the information services provider's stock after buying an additional 110,778 shares during the period. Alphabet comprises 18.5% of Hamilton Capital Partners LLC's portfolio, making the stock its largest holding. Hamilton Capital Partners LLC's holdings in Alphabet were worth $38,662,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Saturday, September 27th. Citizens Jmp boosted their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Wolfe Research boosted their price objective on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Finally, Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.76.

Alphabet Price Performance

Alphabet stock opened at $245.35 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The firm has a fifty day moving average of $221.25 and a 200-day moving average of $186.12. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, 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 was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the company'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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.