Alphabet Inc. $GOOGL Shares Purchased by Triglav Investments D.O.O.

Key Points

• Triglav Investments D.O.O. increased its Alphabet stake by 2.1% in the first quarter, buying 4,648 shares to bring its total to 229,671 shares worth about $66.0 million.
• Alphabet reported strong quarterly results, posting EPS of $9.11 versus estimates of $2.64 and revenue of $119.8 billion versus expectations of $117.07 billion.
• The company also raised its dividend to $0.22 per share quarterly, while Wall Street remained bullish with a Moderate Buy consensus and a $414.54 average price target.

Triglav Investments D.O.O. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,671 shares of the information services provider's stock after buying an additional 4,648 shares during the quarter. Alphabet accounts for approximately 4.6% of Triglav Investments D.O.O.'s holdings, making the stock its 5th biggest holding. Triglav Investments D.O.O.'s holdings in Alphabet were worth $66,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lifetime Wealth Management P.C. acquired a new stake in Alphabet during the fourth quarter valued at approximately $32,000. EMC Capital Management acquired a new position in shares of Alphabet in the 4th quarter worth approximately $33,000. PMV Capital Advisers LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Finally, Bard Associates Inc. acquired a new stake in Alphabet in the 4th quarter valued at $52,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $342.09 on Thursday. The stock has a market cap of $4.14 trillion, a P/E ratio of 26.09, a P/E/G ratio of 1.44 and a beta of 1.24. Alphabet Inc. has a 12 month low of $187.82 and a 12 month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $366.14 and a 200 day simple moving average of $338.86.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $6.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. On average, research analysts expect that Alphabet Inc. will post 14.34 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOGL shares. BMO Capital Markets reissued an "outperform" rating and set a $455.00 price target (up from $435.00) on shares of Alphabet in a report on Friday, July 17th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Mizuho lifted their target price on shares of Alphabet from $420.00 to $460.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a "buy" rating on shares of Alphabet in a report on Monday, June 22nd. Finally, Barclays restated a "buy" rating on shares of Alphabet in a research report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $414.54.

Insider Activity

In related news, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company's stock, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 159,415 shares of company stock worth $7,672,279. Corporate insiders own 11.61% of the company's stock.

Alphabet Company 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.

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