Alphabet Inc. $GOOGL Stock Position Increased by 17 Capital Partners LLC

Key Points

• 17 Capital Partners LLC increased its stake in Alphabet Inc. by 6.7%, purchasing an additional 1,350 shares, making it the firm's 4th largest position.
• Alphabet's stock received several price target increases from analysts, with Citigroup raising it from $203 to $225 and Royal Bank of Canada from $200 to $220.
• The company reported earnings of $2.31 EPS for the last quarter, surpassing analysts' expectations, and announced a $0.21 quarterly dividend payable on September 15th.

17 Capital Partners LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,632 shares of the information services provider's stock after buying an additional 1,350 shares during the quarter. Alphabet makes up 2.1% of 17 Capital Partners LLC's investment portfolio, making the stock its 4th largest position. 17 Capital Partners LLC's holdings in Alphabet were worth $3,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Nia Impact Advisors LLC raised its holdings in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after buying an additional 59 shares during the period. Enzi Wealth raised its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC raised its holdings in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC raised its holdings in Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after buying an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. raised its holdings in Alphabet by 2.1% during the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Truist Financial restated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Royal Bank Of Canada raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Tigress Financial raised their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $199.75 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The business has a 50-day moving average of $186.18 and a two-hundred day moving average of $173.37. The stock has a market capitalization 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 (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet 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 in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock valued at $47,223,172 in the last 90 days. Insiders own 11.64% of the company's stock.

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.

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