Alphabet Inc. $GOOGL Stake Lifted by Infusive Asset Management Inc.

Key Points

• Infusive Asset Management Inc. increased its Alphabet Inc. (NASDAQ:GOOGL) holdings by 21.2% in Q1, making it their 6th largest position, valued at approximately $12.67 million.
• Alphabet's latest quarterly earnings beat expectations with $2.31 EPS, surpassing analyst consensus of $2.15 and achieving revenues of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, equating to a 0.4% yield and an annual payout ratio of 8.95%.

Infusive Asset Management Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,932 shares of the information services provider's stock after acquiring an additional 14,339 shares during the quarter. Alphabet accounts for about 5.9% of Infusive Asset Management Inc.'s investment portfolio, making the stock its 6th biggest position. Infusive Asset Management Inc.'s holdings in Alphabet were worth $12,670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Nuveen LLC bought a new stake in Alphabet during the first quarter worth approximately $4,317,606,000. GAMMA Investing LLC raised its stake in Alphabet by 16,993.2% during 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 during the period. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.9% during 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 acquiring an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after acquiring an additional 7,774,811 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet during the 4th quarter valued at $1,375,509,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $232.30 on Friday. The company has a market capitalization of $2.81 trillion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.55 and a beta of 1.01. 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 company has a 50-day simple moving average of $194.66 and a 200 day simple moving average of $175.13. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $232.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on 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 $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,210 shares of company stock valued at $41,742,155 in the last quarter. 11.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOGL. Oppenheimer restated an "outperform" rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a report on Tuesday. Roth Capital upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Piper Sandler upped their price objective on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities increased their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $221.31.

Alphabet Company 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.

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