Chicago Capital LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 712,726 shares of the information services provider's stock after selling 20,396 shares during the quarter. Alphabet makes up about 3.1% of Chicago Capital LLC's investment portfolio, making the stock its 6th biggest holding. Chicago Capital LLC's holdings in Alphabet were worth $125,604,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its stake in 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 acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in 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 acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
NASDAQ:GOOGL 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 market cap of $2.97 trillion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00. The firm's 50-day simple moving average is $221.25 and its 200 day simple moving average is $186.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated 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 directly owned 243,400 shares in the company, valued at approximately $45,213,984. This 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 have sold 276,738 shares of company stock valued at $59,135,475. 11.55% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have commented on GOOGL shares. Citigroup increased their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Moffett Nathanson increased their price objective on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Jefferies Financial Group increased their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Citizens Jmp increased 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. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $240.76.
Check Out Our Latest Stock Analysis on Alphabet
About Alphabet
(
Free Report)
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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