Alphabet Inc. $GOOGL Shares Bought by AMS Capital Ltda

Key Points

• AMS Capital Ltda increased its Alphabet stake by 781.1% in the first quarter, acquiring 98,823 additional shares for a total holding of 111,474 shares valued at approximately $32.67 million.
• Wall Street remains broadly bullish on Alphabet, with an average “Buy” rating and a consensus price target of $419.86; 50 analysts rate the stock Strong Buy or Buy.
• Alphabet reported quarterly earnings of $9.11 per share, far exceeding the $2.89 consensus estimate, while revenue reached $119.8 billion. The company also declared a quarterly dividend of $0.22 per share.

AMS Capital Ltda lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 781.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,474 shares of the information services provider's stock after acquiring an additional 98,823 shares during the period. Alphabet makes up about 12.7% of AMS Capital Ltda's investment portfolio, making the stock its 3rd largest holding. AMS Capital Ltda's holdings in Alphabet were worth $32,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. EMC Capital Management bought a new stake in shares of Alphabet in the fourth quarter worth $33,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the fourth quarter valued at $32,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet in the 4th quarter valued at $38,000. Bard Associates Inc. acquired a new stake in Alphabet in the 4th quarter valued at $52,000. Finally, Kentucky Trust Co lifted its position in Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after buying an additional 100 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GOOGL shares. Robert W. Baird increased their price objective on shares of Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Needham & Company LLC reissued a "buy" rating and set a $450.00 price target on shares of Alphabet in a research report on Wednesday, June 3rd. China Renaissance increased their price target on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. The Goldman Sachs Group raised their price target on Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $419.86.

Alphabet Price Performance

NASDAQ:GOOGL opened at $354.30 on Monday. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61. The firm has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.99 and a beta of 1.24. The stock's 50 day moving average price is $355.68 and its two-hundred day moving average price is $340.49. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. On average, analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 600,547 shares of company stock worth $16,255,540. Company insiders own 11.61% of the company's stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source