Consulta Ltd Has $123.71 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Consulta Ltd reduced its holdings in Alphabet Inc. by 20%, now owning 800,000 shares valued at approximately $123.7 million, making it the company's 7th biggest holding.
• Insider sales include CEO Sundar Pichai selling 32,500 shares for about $5.8 million, resulting in a 1.25% decrease in his position, while Director John L. Hennessy sold 1,000 shares for $200,000.
• Research firms have recently raised their price targets for Alphabet, with a consensus target price of $211.53 and ratings showing a mix of Strong Buy, Buy, and Hold.

Consulta Ltd lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 800,000 shares of the information services provider's stock after selling 200,000 shares during the quarter. Alphabet makes up about 8.4% of Consulta Ltd's investment portfolio, making the stock its 7th largest holding. Consulta Ltd's holdings in Alphabet were worth $123,712,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE boosted its position in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Legacy Investment Solutions LLC grew its stake in Alphabet by 13.7% in the fourth quarter. Legacy Investment Solutions LLC now owns 980 shares of the information services provider's stock worth $182,000 after purchasing an additional 118 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% 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 15,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,710 shares of company stock valued at $47,225,230. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.6%

Shares of NASDAQ:GOOGL traded up $1.27 during trading on Monday, reaching $212.91. 39,702,089 shares of the stock traded hands, compared to its average volume of 29,138,272. The stock has a 50-day moving average of $190.44 and a two-hundred day moving average of $173.96. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $214.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $2.57 trillion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

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 analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 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, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on GOOGL shares. Loop Capital restated a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Truist Financial reissued a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. KeyCorp raised their target price on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a report on Friday, June 27th. Finally, DA Davidson upped their price target on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet 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.