Alphabet Inc. $GOOGL Shares Purchased by Mill Creek Capital Advisors LLC

Key Points

• Mill Creek Capital Advisors LLC increased its stake in Alphabet Inc. by 22.8% in the first quarter, now holding over 25,424 shares valued at approximately $3.93 million.
• Alphabet recently reported better-than-expected quarterly earnings of $2.31 per share, exceeding analyst estimates by $0.16, and generating revenues of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, with the payment date set for September 15th and an annualized yield of 0.4%.

Mill Creek Capital Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,424 shares of the information services provider's stock after acquiring an additional 4,722 shares during the quarter. Mill Creek Capital Advisors LLC's holdings in Alphabet were worth $3,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at $4,317,606,000. GAMMA Investing LLC increased its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Northern Trust Corp increased its holdings in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL stock opened at $199.75 on Friday. The firm has a market cap of $2.42 trillion, a P/E ratio of 21.27, a P/E/G ratio of 1.34 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 1-year low of $140.53 and a 1-year high of $207.05. The firm has a fifty day moving average of $186.18 and a two-hundred day moving average of $173.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,719 shares of company stock worth $47,223,172 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Barclays increased their price target on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Cantor Fitzgerald boosted their price objective on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Loop Capital reiterated a "hold" rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.53.

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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